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High Tight Bullish Flag Forms in Consumer Electronics Leader

by | Jan 14, 2025

Garmin (GRMN) shares of the consumer electronics leader are continuing their relative strength and closed at highs +2% the past few days as it starts to clear above a trendline and closed above its monthly POC of 210. GRMN has a bullish MACD cross also this week with momentum shifting higher and a move to the former highs from here would be good for a quick 10 points while a breakout can see 230. GRMN still has 750 April $210 short puts in OI from opening sales last month while the $230 and $240 short calls in OI also would point to those being solid targets on the upside from here.

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