Analysis: GT at $21.38 is overextended after a 168.98% yearly gain (Web ID: 11). The daily chart shows a bearish engulfing candle near $22.15, signaling reversal potential (Web ID: 11). The RSI at 78 indicates overbought conditions, with a likely pullback to $19.46, the weekly forecast low (Web ID: 17). Declining 24-hour trading volume ($6.49M) suggests reduced buying pressure (Web ID: 19).
Trade Setup:
Entry: $21.20–$21.40
Target: $19.46 (9% downside)
Stop Loss: $22.50
Risk-Reward Ratio: 1:1.5
Confidence: Moderate (65%)
Note: Watch for a volume spike on the drop.
Trade Setup:
Entry: $21.20–$21.40
Target: $19.46 (9% downside)
Stop Loss: $22.50
Risk-Reward Ratio: 1:1.5
Confidence: Moderate (65%)
Note: Watch for a volume spike on the drop.
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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.