GRMN - knows where it is headed

Whilst the main market saw moderate declines after the FOMC annoucement, Garmin (GRMN) saw some interesting intra-day swings. With good earnings, GRMN opened 5% higher at a new historic high of $50.39, but profit taking came in, with the stock settling +0.4% @ $48.27.


GRMN, daily

Summary

GRMN remains an extremely profitable company, with superb net margins of around 20%. On any basis, the company looks great, with zero debt, reasonable cash reserves, and it even pays a dividend.

see key stats @ Yahoo! finance

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A near term pull back would be understandable. Downside support looks to be around $46/45, where the 50 day MA will be lurking across November.

Assuming the main market holds together, with further upside into spring 2014, GRMN should be in the $60s..if not even higher.