Stock of the Day: Garmin

Garmin is enjoying a strong run, and the technical picture is clearly supporting the buyers. The stock is climbing steadily inside a well-defined uptrend, with price action supported by a long-term black uptrend line. This trendline has been holding firmly and continues to guide the bullish sentiment higher.

The key development came with a breakout from the symmetric triangle pattern, marked with blue lines. Triangles often signal consolidation before a larger move, and Garmin confirmed the bullish case by escaping the formation to the upside. This breakout gives a clear technical signal to buy and confirms that the momentum remains with the bulls.

For now, the immediate target sits at the green resistance level, but given the strength of the current sentiment, the upside potential could easily extend beyond that. As long as Garmin stays above the breakout zone and the uptrend line, the outlook remains strongly positive.

Source: https://www.axiory.com/analytics/stock-of-the-day/stock-of-the-day-garmin-11