Exploring NYSE:GRMN's high growth characteristics.

We've identified GARMIN LTD (NYSE:GRMN) as a potential breakout candidate based on our stock screener's analysis. This breakout setup pattern suggests that after a strong uptrend, the stock is currently consolidating, potentially signaling a continuation of the trend. Keep an eye on NYSE:GRMN for further developments.

Technical analysis of NYSE:GRMN

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

Taking everything into account, GRMN scores 10 out of 10 in our technical rating. 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.

• The long and short term trends are both positive. This is looking good!
• When comparing the yearly performance of all stocks, we notice that GRMN is one of the better performing stocks in the market, outperforming 92% of all stocks. On top of that, GRMN also shows a nice and consistent pattern of rising prices.
• GRMN is part of the Household Durables industry. There are 67 other stocks in this industry. GRMN outperforms 96% of them.
• GRMN is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
• In the last month GRMN has a been trading in the 203.30 - 219.00 range, which is quite wide. It is currently trading near the high of this range.

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

How do we evaluate the setup 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 8 as its setup rating, indicating its current consolidation status.

GRMN has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 218.59. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 215.29, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

Some of the high growth metrics of NYSE:GRMN highlighted

• The EPS of GARMIN LTD has exhibited growth from one quarter to another (Q2Q), with a 41.13% increase. This underscores the company's ability to generate higher earnings and improve its financial standing.
• The quarter-to-quarter (Q2Q) revenue growth of 24.15% of GARMIN LTD has been strong, reflecting the company's ability to generate consistent sales growth. This growth suggests the company's ability to meet customer needs and drive revenue growth.
• Analysts' average next Quarter EPS Estimate for GARMIN LTD has witnessed a 30.28% change in the last 3 months, underscoring the dynamic nature of market sentiment towards the company's EPS prospects.
• 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
• The earnings per share (EPS) growth of GARMIN LTD are accelerating: the current Q2Q growth of 41.13% is above the previous year Q2Q growth of 13.71%. Earnings momentum and acceleration are key for high growth systems.
• With positive growth in its operating margin over the past year, GARMIN LTD showcases its ability to improve profitability through effective cost control and operational efficiency. This growth underscores the company's commitment to enhancing its financial performance.
• With positive growth in its free cash flow (FCF) over the past year, GARMIN LTD showcases its ability to generate strong cash flows and maintain a solid financial position. This growth reflects the company's efficient utilization of capital and its commitment to long-term value creation.
• GARMIN LTD has a healthy Return on Equity(ROE) of 20.22%. This demonstrates the company's efficient utilization of capital and indicates its commitment to driving profitability.
• With a Debt-to-Equity ratio at 0.0, GARMIN LTD showcases its prudent financial management. The company's balanced approach between debt and equity reflects its commitment to maintaining a stable capital structure.
• GARMIN LTD exhibits a favorable ownership structure, with an institutional shareholder ownership of 56.47%. This signifies a diverse investor base, which can contribute to a more stable and efficient market for the stock.
• GARMIN LTD has consistently surpassed EPS estimates in the last 4 quarters, reflecting its strong financial performance and effective management. This trend suggests the company's ability to generate positive earnings surprises and drive shareholder value.
• The Relative Strength (RS) of GARMIN LTD has been consistently solid, with a current 92.35 rating. This highlights the stock's ability to exhibit sustained price strength and signifies its competitive advantage. GARMIN LTD exhibits strong prospects for further price appreciation.

More ideas for high growth momentum breakouts can be found on ChartMill in our High Growth Momentum Breakout screen.

Keep in mind

This article should in no way be interpreted as advice. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.