Tuesday, April 8, 2008

A Note On Garmin

Garmin GRMN recently completed a falling wedge. As we discussed here previously, despite the Elliot Wave practitioners' contentions to the contrary this may not be a particularly bullish sign. If GRMN does not reverse here soon, there is a significant chance of a decline to the 30 to 35 support zone. On the other hand, if it does reverse here a thrust to the February high around 73 should ensue.

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