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.