Shares of Goodyear Tire & Rubber under pressure, down 2.3%

Goodyear Tire & Rubber is a company whose shares are active, trading 2.3% lower to US$11.80. The Dow Jones Industrial Average is now trading 0.4% lower to 13,066 and the S&P is trading 0.6% lower to 1,395.

In the past 52 weeks, Goodyear Tire & Rubber share prices have been bracketed by a low of US$8.53 and a high of US$18.83 and are now at US$11.80, 38% above that low price. The 200-day and 50-day moving averages have moved 0.48% lower and 1.35% lower over the past week, respectively.

Potential upside of 46.5% exists for Goodyear Tire & Rubber, based on a current level of US$11.80 and analysts’ average consensus price target of US$17.29. Goodyear Tire & Rubber shares should first meet resistance at the 50-day moving average (MA) of US$13.16 and find additional resistance at the 200-day MA of US$13.53.

The Goodyear Tire & Rubber Company develops, manufactures, distributes, and sells tyres for most applications. The Company also manufactures and markets several lines of rubber and rubber-related chemicals and provides automotive repair services. Goodyear also retreads truck, aircraft, and heavy equipment tyres. The Company provides its products and services worldwide.

Source: Comcast