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The Goodyear Tire & Rubber Company Message Board

  • james_sudden_green james_sudden_green Nov 29, 2012 4:51 PM Flag

    stock now above both 50 and 200 DMA

    GT has been very strong over the past 2 trading days. Up about 80c, and now firmly above both the 50day and 200day moving averages. This price action bodes well for the stock and we will likely see more gains in the coming days. Perhaps some of this strength is attributable to short covering. A short squeeze may be developing, although that's hard to be certain about.

    It's also possible that the 2013 forecasts for oil and rubber prices are showing lower/steady (i.e. not increasing) trends. Both of those will work in GT's favor.

    Disclaimer: long GT.

    Sentiment: Buy

32.30+0.57(+1.80%)Sep 30 4:00 PMEDT