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After Yesterday's Rally of 1.52% Shares Could Potentially Pullback

By David Diaz

Goodyear Tire & Rubber (NYSE:GT) traded in a range yesterday that spanned from a low of $35.48 to a high of $36.10. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $35.82 on volume of 845,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Goodyear Tire & Rubber have traded between a low of $24.31 and a high of $36.61 and are now at $36.04, which is 48% above that low price. Over the last five market days, 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 December 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $32.65. Since that recommendation, shares of Goodyear Tire & Rubber have risen 8.6%. We continue to monitor GT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders goodyear tire & rubber

Ticker(s): GT