On Thursday, Garmin hit an important technical milestone, with its Relative Strength (RS) Rating jumping into the 90-plus percentile with an upgrade to 93, up from 80 the day before.
IBD's unique rating identifies market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the trailing 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history reveals that the stocks that go on to make the biggest gains often have an RS Rating of at least 80 as they begin their largest runs.
How To Use Stock Charts To Stay Profitable And Protected
Garmin is now considered extended and out of buy range after clearing a 184.42 buy point in a second-stage flat base. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
The company saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 9% to 41%. Revenue rose from 14% to 24%.
The company earns the No. 1 rank among its peers in the Consumer Products-Electronics industry group. Turtle Beach and NextNav are also among the group's highest-rated stocks.
RELATED:
IBD Stock Rating Upgrades: Rising Relative Strength
Why Should You Use IBD's Relative Strength Rating?
How Relative Strength Line Can Help You Judge A Stock
Ready To Grow Your Investing Skills? Join An IBD Meetup Group!
