GRMN - challenging the 200 day MA

With the main market holding together in the sp'1680s, Garmin (GRMN) excelled, closing +1.6% @ $36.90. Garmin is now about to make its first serious attempt to put in a daily close above the important 200 day MA - currently @ $37.16.


GRMN, daily

Summary

Today was the fifth consecutive daily gain for GRMN, and its now challenging the high from May.

On a fundamental basis, GRMN remains exceptionally profitable, with net margins of 20%, which is giving a forward PE of 15 - which is broadly in line with the main indexes.

see key stats @ yahoo! finance

So long as GRMN can maintain current margins, it should be able to break the 200 day MA, and make a play to test the Jan' high in the 42s.

If equities broadly rally into spring 2014, GRMN should (in theory) have a reasonable chance of a major ramp to $50