Is Garmin still a buy here? The stock popped 4.2% to 100 today, no surprise since it was below its 10- and 50-day simple moving averages yesterday. I thought it was a buy yesterday, but cautiously so.
So, is GRMN a buy at 100? Yes. Here, it's almost touching its 50-day SMA, actually slightly below. The X Factor, of course, is how the Co solves its map-access issue in the long term. Buy Navteq? Build its own navigation (software)? Whatever the answer is, volume today was 9.5 million shares, the strongest up day since Sept. 27. Then again, the past three down sessions all have greater volume than today. The Co is superb and the bump up today was no surprise. Without any news to the upside, however, patience is required for longs.
Pupule says: Buy cautiously, be patient.