Did you get a Garmin (GRMN) gadget for the holidays this year? If Garmin has fallen off your … radar, it’s time to take a second look, at least for the short-term.

At the Dec. 24 close, Profit Scanner powered by Recognia identified a bullish Symmetrical Continuation Triangle pattern on Garmin’s chart, indicating the stock could move 12% to 16% higher in the next several weeks.  The short-term target range for the pattern puts GRMN shares at $60.50 to $62.25.

While Profit Scanner looks solely at technical indicators, the technical target matches up nicely with what analysts are expecting, as well, with Garmin’s mean target of $60.23. But the charts suggest GRMN will hit those levels sooner than many think. The bullish Symmetrical Continuation Triangle is expected to resolve within just 24 trading days.

But it should be noted that the pattern occurred on relatively light trading volume of just 684,905, but this is a seasonally light time of year for traders. For traders who need some additional confirmation to go long Garmin shares, resistance for GRMN resides at $55.95. If shares can clear that level, that may your signal to accumulate. Additionally, support is at $51.99, so you may want to see that hold before establishing positions. Profit Scanner puts a tight stop at $51.84.

Profit Scanner powered by Recognia can help traders of all levels uncover these signals to determine the best timing to buy. Or use Profit Scanner’s technical insight to validate your own trading ideas. See how easy this powerful tool is to help you uncover hidden opportunities in the market.