GT trade ideas
GoodYear Tire & Rubber (USA: $GT) Massive Multi-Year Uptrend Goodyear is one of the world's largest tire companies. It employs about 62,000 people and manufactures its products in 46 facilities in 21 countries around the world. Its two Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg, strive to develop state-of-the-art products and services that set the technology and performance standard for the industry.
GoodYear Tire & Rubber (NASDAQ: GT) Could Lift Upwards 🎈🎈🎈The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of rubber tires for automobiles, trucks, buses, aircrafts, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and various other applications under the Goodyear, Dunlop, Kelly, Debica, Sava, Fulda, and various other Goodyear owned house brands, as well as under the private-label brands. The company also retreads truck, aviation, and off-the-road tires; manufactures and sells tread rubber and other tire retreading materials; sells chemical and natural rubber products; and provides automotive and commercial truck maintenance and repair services, and miscellaneous other products and services. It operates approximately 1,000 retail outlets, which offer products for retail sale, and provides repair and other services. The company sells its products worldwide through a network of independent dealers, regional distributors, retail outlets, and retailers. The company has strategic collaboration with ConMet to develop combined digital solutions that connect commercial truck fleets to the health of their tires and wheel ends; and a strategic relationship with UFODRIVE to pursue opportunities to integrate their complementary mobility solutions, including Goodyear's intelligent tire monitoring system and proactive solutions suite and UFODRIVE's advanced eMobility software as a service platform. The Goodyear Tire & Rubber Company was founded in 1898 and is headquartered in Akron, Ohio.
$GT long idea$GT at good entry here for day trade, 50 MA + golden pocket confluence - Looks bull flag. Adding here and adding more on the break. tight stop, below given level.
Goodyear downtrend to support level$GT is in a downward trend from a high of 19.37, to today’s closing at 17.21, the stock dropped further to 17.05 after hours. The stock experienced a double rejection at 18.43 a week apart, making that price a strong resistance level. If current trends hold, $GT will stay under the 17.46 resistance level this Monday and stay under the top trend line the next day. $GT may encounter support at 16.48 and change trends.
GOODYEAR buy putsswing failure 18.75 61.8 fib confluence target swing low and below stop loss something like price closing above 19.20 or personal sl
GT: Bullish Pennant, confirmedBullish Pennant, confirmed
Pros:
Post forming with volume
Descending volume during flag forming
PPS above 50MA and 200MA
Golden cross in blue
RS above 0, and ascending
ATR Ascending
R/R ratio above 5
250RSI above 50
200MA ascending
Cons:
No volume at break out
Target:
PT = 21.48$
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Goodyear is big player nowAfter announcing $2.8 billion takeover of Cooper. The corporate action is assisting company to reaching biggest car market in the world- China
Goodyear and Cooper are the two largest tire producers in the US, they lag behind rival manufacturers in market share and brand recognition in China. This purchase will be further strengthen sale in global and China due to reducing rivalry.
How big car market is in China?
1. According source, 2,832,900 vehicles were sold in the Q1 2020 in China and comparing with Europe only 3,054,700.
2. Fast selling in EV, China set a new monthly record of plug-in electric car sales in December 2020 224,000, which improve 50% compare with year 2019.
My opinion
1. Price might be consolidate in range 13.2 ~ 14.4
2. If there is support with large volume, price might spiking again
*Share your idea below to benefit fellow investors
*FYI this is not purchase and sale advice
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GT BreakoutHopefully sustainable breakout following a breakout from rubber futures.
Trade with caution.
GOODYEAR TIRE daily analysis
Hi friends
the daily analysis shows that it will experience with a high probability an uptrend but at the same time you have to be vigilant of the change towards the opposite direction
GT looking bullish 1st Target $13 ascending triangleGT looking bullish creating an ascending triangle might be a good underdog trade for 2021
$GT Goodyear Tire & Rubber 20% upside
Potential Long entry upon a break above the local resistance line
and the Previous Pivot Point @$10.70.
Golden cross just complete on the moving Averages .
Considerable gap in the visable Range above current level.
The obvious move away from public transport and booming
car industry must have had a bullish effect on earnings
GT Forming 3 Month #AscendingTriangle #ChartPatternDownsloping weekly trendline around $12.25 should act as resistance on a breakout (use as price target).
going shopping at 7/11Highs: 1987, 1997, 2007, 2017......2027?? = when the year ends in a 7.
lows: 1987, 1998, 2009, 2020....2031?? = a major low happens 11 years from the last low.
the date when most highs happen is in june - july.... which is to be expected since the companies birth month is aug. companies like to change major trends on their birth month.
if it breaks above 40 than you can look for a retest of 75. if it breaks 40, than it will run like the horses. many years of stored energy that will be released.
long till 2027, take profits and use to short till 2031.....an 11 year round trip...... i know many want fast money, but good things come to those that wait.
compound interest works wonders.....
Long term Sell and Buy Points for GT.GT is in Bullish trend in the weekly and daily charts. I expect the price to fluctuate in this channel till it reaches around 15 followed by a correction.
GT: Descending channel, possible reversal?GT in a bearish channel sice mid 2017.
Bounced on support around 3.50 wich was 2003 and 2009 historical lows.
May point into a bullish reversal.
Must break through 9.69$ resistance and through 50MA to confirm.
If confirmed:
Target #1 = 18,73$
Target #2 = 24$
Target #3 = 29,58$
Target #4 = 36,51$
Good year just Made" the Bread and Butter" trade. (trade devils)This what im talking about when it comes to trades. the -50% is a great set-up.
