1. Our Wed., Nov. 19 Garmin update indicated Garman was a ‘Buy’ at yesterday’s close of $59.19 for a quick advance and test/attempt at $60.20 (initial profit target) and possibly $63.50/$64 later.
2. Today’s (Thurs., Nov. 20) session advanced and completed the initial $60.20 upside target (today’s session high $60.19, so far). Partial long position exits were taken at/near that level. Further long position exit should be taken at/near $61.20 and any remaining position held for the possibility of $63.50/$64 noted in the original update.
3. Our protective sell stop has been raised to $58.80. This stop will continue to be moved higher as the market continues to confirm. Will update.
1. After completing the $60.20 upside profit target on Thurs, Nov. 20 Garman declined and hit our adjusted protective sell stop at $58.80, resulting in a gain on the overall position. Will message any further entry or indication in Garman.
1. Garmin broke out on the upside today (Wed. Nov. 19) placing Garmin in a ‘buy’ position for a multiweek advance and test/attempt at $60.20 (initial exit target), and possibly $63.50/$64. Today’s session closed at $59.19.
2. A protective sell stop should be placed at $58.00 this stop will be moved higher as the market continues to confirm. Will update.