Analysis: GT ($21.38) is encountering resistance at $21.66, a key level where it has faced rejection (Web ID: 2). The 1-day chart shows a bearish shooting star candle, indicating seller control. The RSI at 78 suggests overbought conditions, with a likely drop to $19.55 (Web ID: 23). The 24-hour trading volume drop to $6.49M signals weakening momentum (Web ID: 19). A break below $21.15 confirms the bearish setup.
Trade Setup:
Entry: $21.20–$21.40
Target: $19.55 (8.5% downside)
Stop Loss: $22.20
Risk-Reward Ratio: 1:1.8
Confidence: High (70%)
Note: Monitor for increased selling pressure.
Trade Setup:
Entry: $21.20–$21.40
Target: $19.55 (8.5% downside)
Stop Loss: $22.20
Risk-Reward Ratio: 1:1.8
Confidence: High (70%)
Note: Monitor for increased selling pressure.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.