Garmin (GRMN) Downgrade Alert, Watch for 19.8% Technical Downtrend Continuation

Garmin (NASDAQ:GRMN) downgraded to Underperform at RBC. The stock closed yesterday at $26.84 on volume of 19,752,800 shares, above average daily volume of 2,991,039.

Garmin is currently below its 50-day moving average of $35.56 and should find support at its 200-day moving average of $25.51.

SmarTrend is bearish on shares of GRMN and our subscribers received a Downtrend alert on October 28, 2009 at $33.46, which has returned 19.8% to date.

Write to Chip Brian at cbrian@tradethetrend.com

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