Analysis: GT ($21.38) shows a lower high on the weekly chart, repeating a 2021 bearish pattern (Web ID: 16). Trading volume is decreasing, indicating waning interest (Web ID: 16). The price is below the May 2021 all-time high ($25.94), reinforcing a bearish bias (Web ID: 19). The next support at $18.74 (pivot) is likely if $20.50 breaks (Web ID: 17). The 4-hour MACD is crossing bearish, supporting a pullback.
Trade Setup:
Entry: $21.30–$21.50
Target: $18.74 (12% downside)
Stop Loss: $22.67
Risk-Reward Ratio: 1:2
Confidence: High (70%)
Note: Low volume confirms bearish sentiment.
Trade Setup:
Entry: $21.30–$21.50
Target: $18.74 (12% downside)
Stop Loss: $22.67
Risk-Reward Ratio: 1:2
Confidence: High (70%)
Note: Low volume confirms bearish sentiment.
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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.