GT rises to highest close since March 16th
Moving higher for the 3rd day in a row, GT ended Monday at 28.21 gaining $0.37 (1.33%) on low volume. Today's closing price of 28.21 marks the highest close since March 16th. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session.
Monday's trading range was $0.44 (1.57%), that's below last trading month's daily average range of $0.68. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 27.42 and 28.34 which it has been in now for the last trading week.
Prices are trading close to a key support level at 27.85. After having been unable to move above 28.27 in the previous session, the stock ran into sellers again around the same price level today, failing to move higher than 28.34.
Although the share is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory.
Further buying could move prices higher should the market test March's nearby high at 29.19.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for Goodyear Tire & Rubber
|Close to Swing High||TQ Pro Members Only|
|Low close to previous low||TQ Pro Members Only|
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