Garmin (GRMN) Nears Oversold Level as Traders Buy on Dip

March 26, 2013 11:21 AM EDT
Traders are not buying today's weakness in Garmin Ltd. (Nasdaq: GRMN).

According to market data, money flow in trading today favors an uptick by a ratio of about 5:1.

Notably, Garmin's 14-day money flow index is at about 25.7, right near the 20 level, which hints that the stock might be oversold. Shares hit a 52-week low of $32.82 on March 22nd.

Garmin is about 0.7 percent lower Tuesday.

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