Investing With IBD
Ep. 234 Mish Schneider: Why This ‘Family’ Of Indicators Is Signaling Caution
Sep 14, 2023
Chief Strategist at MarketGauge.com, Mish Schneider, discusses the six market phases and the 'economic modern family' indicators. Topics include the importance of seasonality, trading strategies, analyzing the NASDAQ, trade ideas, investing in TECK stock in the energy sector, and cryptocurrency as an investment.
01:00:30
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Quick takeaways
- Garmin could be poised for a breakout, with potential growth in wearables market and innovations in other areas.
- Coinbase could see significant growth as cryptocurrencies gain wider adoption and with potential for a Bitcoin ETF.
Deep dives
Garmin: A Potential Opportunity in a Challenging Market
Garmin, known for GPS technology, has been consolidating within a trading range after a long history as a leader in the sector. Despite concerns about technological advancements like smartphone navigation, Garmin has shown resilience and still has potential. From a technical standpoint, Garmin is above the 200-day moving average and in a caution phase. It is trading near the six-month calendar range low, which could offer a good risk-to-reward setup. Breaking out above the 50-day moving average could indicate a more bullish phase. With the potential growth of the wearables market and the company's innovations in other areas, Garmin could be poised for a breakout.
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