Why NYSE:GRMN qualifies as a high growth stock.

Our stock screener has detected a potential breakout setup on GARMIN LTD (NYSE:GRMN). This breakout pattern is observed when a stock consolidates following a strong upward movement. It's important to note that this pattern is based on technical analysis, and the actual breakout outcome is uncertain. However, it might be worth keeping an eye on NYSE:GRMN.

Technical analysis of NYSE:GRMN

ChartMill assigns a Technical Rating to every stock. This score ranges from 0 to 10 and is updated daily. The score is determined by evaluating multiple technical indicators and properties.

We assign a technical rating of 10 out of 10 to GRMN. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, GRMN is showing a nice and steady performance.

• Both the short term and long term trends are positive. This is a very positive sign.
• Looking at the yearly performance, GRMN did better than 91% of all other stocks. We also observe that the gains produced by GRMN over the past year are nicely spread over this period.
• GRMN is part of the Household Durables industry. There are 66 other stocks in this industry. GRMN outperforms 93% of them.
• GRMN is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so GRMN is lagging the market slightly.
• In the last month GRMN has a been trading in the 203.69 - 222.97 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

Our latest full technical report of GRMN contains the most current technical analsysis.

How does the Setup look for NYSE:GRMN

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the level of consolidation in the stock based on multiple short-term technical indicators. Currently, NYSE:GRMN has a 7 as its setup rating, indicating its current consolidation status.

GRMN has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a support zone below the current price at 209.80, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for GRMN in the last couple of days, which is a good sign.

What matters for high growth investors.

• In the most recent financial report, GARMIN LTD reported a 41.13% increase in quarterly earnings compared to the previous quarter. This notable growth indicates positive momentum in the company's financials, suggesting an upward trend
• With impressive quarter-to-quarter (Q2Q) revenue growth of 24.15%, GARMIN LTD showcases its ability to generate increased sales and revenue. This growth indicates the company's strong customer demand and its effective business strategies.
• Over the past 3 months, analysts have adjusted their EPS Estimate for GARMIN LTD with a 30.28% change. This highlights the evolving outlook on the company's EPS potential.
• The recent financial report of GARMIN LTD demonstrates a 41.13% increase in quarterly earnings compared to the previous quarter. This growth indicates positive momentum in the company's financials and suggests a promising upward trend
• GARMIN LTD shows accelerating EPS growth: when comparing the current Q2Q growth of 41.13% to the previous year Q2Q growth of 13.71%, we see the growth rate improving.
• With a favorable trend in its operating margin over the past year, GARMIN LTD demonstrates its ability to enhance profitability through efficient operations. This growth reflects the company's focus on optimizing its cost structure.
• With a favorable trend in its free cash flow (FCF) over the past year, GARMIN LTD demonstrates its ability to generate robust cash flows and maintain financial stability. This growth reflects the company's focus on efficient capital allocation and cash management.
• GARMIN LTD showcases a robust Return on Equity (ROE) of 20.22%, indicating its ability to generate favorable returns for shareholders. This metric underscores the company's efficiency in utilizing its equity capital to generate profits.
• GARMIN LTD exhibits a favorable Debt-to-Equity ratio at 0.0. This highlights the company's ability to limit excessive debt levels and maintain a strong equity base, demonstrating its financial stability and risk management practices.
• With institutional shareholders at 56.47%, GARMIN LTD demonstrates a healthy ownership distribution. This reflects a mix of institutional and individual investors, creating a market environment that may foster increased trading activity and price discovery.
• With a track record of beating EPS estimates in the last 4 quarters, GARMIN LTD showcases its consistent ability to deliver earnings surprises. This reflects the company's strong execution and its competitive position in the market.
• GARMIN LTD has exhibited strong Relative Strength(RS) in recent periods, with a current 91.93 rating. This indicates the stock's ability to outperform the broader market and reflects its competitive position. GARMIN LTD shows promising potential for continued price momentum.

Our High Growth Momentum Breakout screen will find you more ideas suited for high growth momentum breakouts.

Keep in mind

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.