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Garmin (GRMN) : Bearish ….

Garmin has very bearish chart today.

Like the broader market, Garmin rallies on market open but quickly reverse as its results was released.

From $30 to $33, it quickly lose ground and is now back at $30 (before the day ends).

From a technical analysis standpoint, this is  a very bearish chart.

1. Candlestick shows Bearish engulment

2. Ichimoku shows bearish cross from the Tenkan sen – Kijun sen cross

3. Price is falling off the kumo (or exiting from the kumo).

4. Leading kumo is showing signs of a twist

That’s quite a few confirmation sign of a bearish outlook.

Garmin_is_dead

By iam802

Trend trading with Ichimoku