Analysis: 
GT at $21.8 is struggling to break the $21.66 resistance, forming a double-top pattern on the 4-hour chart, a bearish reversal signal. The daily RSI at 78 indicates overbought conditions, and a bearish divergence on the MACD suggests weakening momentum. The price is near the upper Bollinger Band, increasing the likelihood of a pullback to the $19.55 support, a key Fibonacci level. Decreasing trading volume supports fading momentum.
Entry: $21.70 - $21.80
Target: $19.55 (10.09% downside)
Stop Loss: $22.50 (3.67% upside)
Risk-Reward Ratio: 2.75:1
Indicators: RSI, MACD, Bollinger Bands, Volume
GT at $21.8 is struggling to break the $21.66 resistance, forming a double-top pattern on the 4-hour chart, a bearish reversal signal. The daily RSI at 78 indicates overbought conditions, and a bearish divergence on the MACD suggests weakening momentum. The price is near the upper Bollinger Band, increasing the likelihood of a pullback to the $19.55 support, a key Fibonacci level. Decreasing trading volume supports fading momentum.Entry: $21.70 - $21.80
Target: $19.55 (10.09% downside)
Stop Loss: $22.50 (3.67% upside)
Risk-Reward Ratio: 2.75:1
Indicators: RSI, MACD, Bollinger Bands, Volume
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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.