GT fails to close above 20-day moving average


Goodyear Tire & Rubber (GT) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
GT closes below its opening price unable to hold early session gains
GT fails to close above 20-day moving average
GT finds buyers again around 25.01
GT closes within previous day's range after lackluster session
GT ends the day indecisive
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

GT finished Thursday at 25.10 gaining $0.04 (0.16%) on low volume. Trading $0.10 higher after the open, Goodyear Tire was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for GT
Volatility

Thursday's trading range was $0.21 (0.84%), that's far below last trading month's daily average range of $0.47. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.

Support/Resistance

Prices are trading close to a key support level at 24.96. After having been unable to move lower than 24.95 in the prior session, the stock found buyers again around the same price level today at 25.01. After spiking up to 25.22 during the day, the share found resistance at the 20-day moving average at 25.17.

Trend

While the market is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory.

Order Flow

Selling might accelerate should prices move below the close-by swing low at 24.88 where further sell stops could get triggered. As prices are trading close to June's low at 24.40, downside momentum might speed up should GT mark new lows for the month.

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a neutral sentiment for the next trading day.

Market Conditions for Goodyear Tire & Rubber
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Decisive Up Move TQ Pro Members Only
White Candle TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Bullish Bounce off SMA 20 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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