6 Stocks to Sell in November

These underperformers pose higher-than-average risk and have seen heavy insider selling

      View All  

Stock to Sell #4 – Garmin Ltd. (GRMN)

Garmin Ltd. (NASDAQ:GRMN) provides navigation, communication and information devices for aviation, marine, automotive and recreation markets. Increased competition from free mobile GPS from Google (NASDAQ:GOOG) and others and a slow-growing economy have put pressure on Garmin’s operating EPS, which is expected to decline in 2013.

Insider selling has increased, and technically, the stock is consolidating under a double-top at $43. MACD is oversold, but new sellers have appeared, and therefore, the chance of a break below the support line at $35-$36 has increased.

A breakdown would most likely trigger a sell-off with an objective of $27 to $28. Sell on a close under $36.

GRMN Chart

Trade of the Day Chart Key

Article printed from InvestorPlace Media, http://investorplace.com/2012/11/stocks-to-sell-bby-ce-cmg-grmn-isil-utx/.

©2017 InvestorPlace Media, LLC