The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, markets, and distributes tires, and related products and services. The company 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 private-label brands. It also retreads truck, aviation, and off-the-road tires; manufactures and sells tread rubber and other tire retreading materials; manufactures and sells rubber-related chemicals; and provides automotive repair services, and miscellaneous other products and services. In addition, the company sells natural rubber products.
Goodyear Rises on Plan to Return $4 Billion to Shareholders http://finance.yahoo.com/news/goodyear-rises-plan-return-4-124938571.html
Upcoming dividend information: Ex-Div-Date: 10/28/16 Payment Date: 12/1/16 Dividend: $0.10 Current Price: $31.25 Annual Yield: 0.90%
I'm kinda new to all this. Still learning the ropes. GT of course is going to tank because they got called out on their double standards. Where there's misery their money. On the stock market, anyway. So, I have a question: how do you know when a dip is at or near the bottom? And how do you know when a dip has rebounded close or near of where it will come back? Final thing: I put in trend lines (blue) and two orange lines thinking that one or the other must be support. I have no idea where to put resistance. Or for that matter, whether my trend or support lines are based in reality or the stinkin thinkin of a newby. Any comments on how to look at that better or how to do a better evaluation?
I'd say resistance at 10.50=the high from last quarter. Also around that area is the 200 sma; if it gets over that, it could be a good long. Right now it's in a sideways range from about 8.50 - 10.50 for the last 2 months. And right now it's right in the middle at 9.50. So now is time to wait; with the idea to go long at 8.50 or above 10.50 & the 200 sma (beware reversal at that area though).
Some tires are sold to OEM. Goodyear makes a "run flat" featured on some cars. Some cars come with Goodyear performance tires. Goodyear brand models are favored in some specialty markets like off-road and rally. Goodyear also has lower priced tires sold through discount chain stores. Tires are a "gray market". Distributors get different prices depending on volume, and earn rebates. Tires are date stamped. Older tires are aggressively sold "on sale" or discounted through unscrupulous resellers. There may be a fractional marketshare of brand loyalist. A lot of consumers buy whatever the service writer installs. Tire sales probably won't be hurt in the long run. Sure, a few people will buy based on personal sentiment. But in the global market, with tires sold worldwide, sales are lost to pricing and availability. Stock price? Maybe some short term bad feelings. I would look at the balance sheet and financials. If the company is making money, then you have a reasonable expectation of return on investment.
If I look at it with just some simple technical analysis and don't dive into anything I see a short term wedge forming. Current price is also trapped in between the 50MA and 200MA which are looking like a bullish crossover is going to be coming at some point. In the short-term, I'd watch for a breakout of that wedge in either direction, although it's an ascending wedge so a bullish breakout would be more promising of a likely push either way. If it breaks through that resistance and 200MA, I'd say the next obvious resistance is ~$12.50 where it gapped down back in February and that gap needs to refill up to ~$13.20. Next obvious resistance after it gets through there is the high back in November of a little over $17.
It is not clear what time frame you want to trade neither did you indicate the period of each candle on your chart. That would be helpful. Nevertheless it appears to be 30-minute candles. From daily bars it appears: It is in a trading range (TR) with demand (uptrend) in the background. It is in that phase of the TR which is erratic. It potentially showed a sign of weakness (SOW) yesterday, Wed. 8/19/2020, however it closed well off the low of day and did not follow-thru today. If it had been an SOW that would indicate a trend reversal. So must still assume uptrend is intact. Look for retest of 9.15 to 8.76. Daily bars:
No follow-thru to the downside today, so that was not bearish. Half the volume of yesterday but still a lot of volume with very little price movement; churn. The composite man (CM, aggregate of big players) may be soaking up shares here. Bulls need the volume (supply of stock coming into this market) to dry up before it goes down to test that 8.76 to 9.15 area. If the CM is accumulating he may take it down there to check for and sop up any remaining supply (weak hands). A close back up out of that area (a spring) will be a buy and a quick continuation higher says "hold". If there is still substantial supply on that retest then he may have to take it down to $8 to get the remaining weak hands to sell by running the stops that are likely sitting just under 8.06 and 8.00. The same buy and hold rules would apply there; a spring with immediate follow thru to the upside. If he is distributing then he would show his hand by not supporting the price and a sign of weakness (SOW) would ensue as the funds and specs sell it down on heavy volume. If that happens wait for the retest to short it. Oh, and don't read any news, just watch the tape. The news is owned by the CM. .
Goodyear buying Cooper Tire Goodyear (GT) to buy Cooper Tire (CTB) for $2.8 billion, doubling China presence Source: https://finance.yahoo.com/news/1-goodyear-buy-cooper-tire-123131222.html Feb 22 (Reuters) - Goodyear Tire & Rubber Co said on Monday it would acquire Cooper Tire & Rubber Company for about $2.8 billion to double its presence in North America and China.
