Garmin Slides 3.39% To $201.32 As Bearish Technicals Intensify

Garmin (GRMN) concluded its latest session at $201.32, marking a 3.39% decline and extending its losing streak to three consecutive days with a cumulative 4.19% drop. This downward movement reflects increasing selling pressure amid broader technical deterioration. The following analysis examines key technical indicators to assess potential price trajectories.
Candlestick Theory
Recent candlestick patterns reveal bearish momentum dominance. The last three sessions formed consecutive bearish candles with lower highs and lows, culminating in a long-bodied red candle on June 13th that closed near its low ($200.89–$206.17 range). This pattern suggests unresolved selling pressure. Key resistance now solidifies at $210–$211.50 (June 10–11 highs), while critical support emerges at $200 (psychological level and recent swing low).
Moving Average Theory
The 50-day SMA (~$207.50) crossed below the 100-day SMA (~$209) in late May, confirming a bearish medium-term trend. Price currently trades below both, with the 200-day SMA (~$194) acting as final long-term support. The moving average alignment now reflects a "death cross" configuration, typically signaling extended bearish momentum. A sustained recovery would need to reconquer the $207–$209 confluence zone.
MACD & KDJ Indicators
The MACD histogram remains entrenched in negative territory, with both signal and MACD lines diverging below the zero line, reinforcing bearish momentum. KDJ readings (K: ~28, D: ~35, J: ~15) approach oversold thresholds, though J-line compression suggests lingering downward inertia. While these conditions warn of potential exhaustion, neither oscillator yet signals a bullish reversal. Divergence would emerge if price establishes new lows without corresponding KDJ confirmations.
Bollinger Bands
Bollinger Band width expanded significantly during the June 13th selloff, reflecting a volatility breakout to the downside. Price pierced the lower band intraday before closing near it, indicating oversold extremes. The 20-period moving average (mid-band) slopes downward at $209.20, now acting as dynamic resistance. A contraction from current levels could precede a short-term reversal.
Volume-Price Relationship
The decline was validated by rising volume—June 13th’s 838k shares traded exceeded the prior two days’ averages. This distribution pattern signals conviction behind the breakdown. However, volume on the May 30th swing low (~2.4M shares) remains the year’s highest, suggesting latent support at $200–$202 if retested. Ongoing weakness requires sustained high volume for confirmation.
Relative Strength Index (RSI)
The 14-day RSI (calculated using closing gains/losses) sits at 30.1, entering oversold territory. While this warns against aggressive downside bets, RSI has room to extend lower in strong trends. Crucially, it has not registered bullish divergence versus price since late May, limiting reversal confidence. Rebound attempts would need RSI to reclaim 45 as confirmation of momentum stabilization.
Fibonacci Retracement
Using the swing low of $158.38 (June 14, 2024) and high of $246.50 (February 19, 2025), the 50% retracement level at $202.44 aligns precisely with June 13th’s low. This Fibonacci support ($202–$200 confluence) now acts as a decisive technical pivot. A sustained break below $202.44 exposes the 61.8% retracement at $190.30. Conversely, holding this zone could trigger a relief rally toward the 38.2% level at $214.60.
Confluence and Divergence Observations
Confluence materializes at $200–$202, where Fibonacci support, psychological support, the 100-day SMA, and year-long volume accumulation intersect. A decisive break here would likely accelerate selling. Key divergence exists between oversold oscillators (RSI, KDJ) and ongoing price weakness—such tension typically resolves via either sharp reversal or consolidation before continuation. The lack of MACD bullish divergence and volume confirmation remains a bearish outlier.
In summary, Garmin’s technical structure leans bearish, with momentum indicators aligning with recent distribution. The pivotal $200–$202 support zone demands vigilance—holding it could foster a technical bounce toward $210 resistance, while failure may extend declines toward $195–$190. Traders should monitor oscillators for stabilization signals and volume for breakout/breakdown validation.