GT trade ideas
FT very short trade with loos and lack of informationWrite sometning about your psyhology thinking before trade? its ok probably bull market is still in place
Describe the trade. What you see? Price will channelize between two borders next swing is down to target price
What can I take away to help with later trades? better describe the trade for further investigation.
GT - Long Idea-Watching trading today; believe GT could be bottoming
-RSI oversold
-Earnings 7/26
-Recent option volume in the 1/2019 $26 Calls
-Recent business/secular pressures; but a solid balance sheet
Opportunity?You could Invest $10,000
Buy 400 shares of GT before $25.18
FYI: I already have 500 shares of CTB
I will monitor GT as a comparison.
GT Goodyear holding support.GT Goodyear looks to hold on its historical support line. Buy as close to support as possible.
GT: Bit of patience and the swing up might occur for 30% gainsGoodyear came out with results yesterday, and I quote:
"Q1 EPS of $0.50 beats by $0.04. // Revenue of $3.83B (+3.5% Y/Y) beats by $10M. // Looking ahead, Goodyear reaffirms prior guidance for 2018 segment operating income of $1.8B to $1.9B. Management expects the TireHub joint venture to be the "cornerstone " of its aligned distribution network."
This would bring the price up at least a bit right? Well no, it ended that day with -5%!
There's no logic in this price decline and that is why I place it in my watchlist, and will time the entry once the critical supports are hit, indicated on the chart above. Exit should be north of 32$, zone it reached many times after dips in last 2 years.
Will update when favorable zone is hit, make sure to follow for more.
Doji ReversalReversal doji candle visible, with previous confirmation at same levels... nice swing trade setup with a nice Risk/Reward ratio
GT in Demand ZoneExperimenting with Sam Seiden's, Supply and Demand zones. If I've correctly identified what Sam refers to as "Fresh Demand", we should see buy orders filled down here, driving price higher.
GT Short on MACD and Force Index DivergencesMACD and Force Index divergence, combined with the strong resistance level, is supposed to give bears some steam here.
Goodyear Tires Weekly Clone Levels My attempt at using Clone Levels on GT. There is a bearish Butterfly as well 2 bearish AB=CD patterns completing at the top of the range which may be a nice opportunity to short (and especially if SPX is to have a pullback as many on here seem to think). Weekly RSI is almost overbought as well.
The targets of this pattern as well as the larger clone levels will be areas of interest for me to then long.
I also want to sincerely thank @GcNaif for all of his help in educating us on Clone Levels (although he has no clue about this idea so I am not trying to say he endorses it -- I just appreciate his posts regarding it). I hope my understanding of them is accurate!
GT Short at overhead Resistance - more conservative versionIn this version the target is within the previous swing low. R:R is compromised but completion chance is higher. If entry is activated, use the Ladder to trail stop loss.
Goodyear: A nice daily long opportunity Goodyear looks a lot like Alaskan Airlines (posted by Ivan Labrie, link down below). I think this potential long is worthy of .5% risk until we see 5 days with no new low/additional convincing action that will allow us to add/trail stops.
Entry: Market
Target: 31.18
Stop: 26.82
