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Bearish Moving Average Cross by Goodyear Tire & Rubber (GT)

By David Diaz

Today, shares of Goodyear Tire & Rubber (NYSE:GT) have fallen below their 10-day MA of $31.55 on a volume of 554K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Goodyear Tire & Rubber share prices have moved between a 52-week high of $35.30 and a 52-week low of $24.31 and are now trading 28% above that low price at $31.18 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.4%.

SmarTrend recommended that subscribers consider buying shares of Goodyear Tire & Rubber on July 26th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $27.44. Since that recommendation, shares of Goodyear Tire & Rubber have risen 15.6%. We continue to monitor GT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses goodyear tire & rubber

Ticker(s): GT