Goodyear Tire & Rubber Set to Possibly Rebound After Yesterday's Selloff of 1.01%
Goodyear Tire & Rubber (NYSE:GT) traded in a range yesterday that spanned from a low of $31.28 to a high of $32.05. Yesterday, the shares fell 1.0%, which took the trading range below the 3-day low of $31.36 on volume of 768,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
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 15.4%. We continue to monitor GT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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 29% above that low price at $31.43 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.4%.
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