GT trade ideas
Goodyear: A nice daily long opportunity Goodyear looks a lot like Alaskan Airlines (posted by Ivan Labrie, link down below). I think this potential long is worthy of .5% risk until we see 5 days with no new low/additional convincing action that will allow us to add/trail stops.
Entry: Market
Target: 31.18
Stop: 26.82
Premium Pick 4wks ago we still hold, if missed thenforming a hammer on the daily today, worth watching
(SWING) Just on watch. Putting this on watch for the next month. Nice earnings run, looking for a orderly pullback to support or DMA with low volume. Also looking for Stochastic to work off its overbought level. Stock is way to extended and due a pullback or consolidation phase.
Topping candle yesterday confirmingIf you missed the initial break out you may get another chance soon.
GT Perfect Gap N Go (Brad Reed Feb17,2015)GT expected to open at 26.81 for a Perfect Gap N Go. To learn to trade this strategy for free go to www.RealLifeTrading.com
Short Good Year on a break below 24- Auto and Tires are under-performing the S&P
- GT has formed a down trend
- Short on a break below 24 along with a bearish market condition (reversion to the down trend )
Short GoodyearWithin the weak Tires sub industry, Goodyear has been losing upside momentum and is starting to underperform the S&P since May 2014.
Technical Analysis:
- Bearish Divergence from May to now
- Price has been holding bellow the 20MA on the weekly chart with a mean rejection at the beginning of Sep
- Downtrend on the relative performance chart with the S&P
Initial target:
50% fibo retracement at 20.26 which is above the long term uptrend support from 2012
GT - Good yearIf does not brake resistance of 23.13, most likely will go down again and price target should be around $22.50
