Goodyear Waiting for a Break Out?

Published on Monday, 30 January 2012 07:36 Written by Christian Paolinetti

New York, January 30th (TradersHuddle.com) - Shares of The Goodyear Tire & Rubber Company (NYSE:GT) closed the trading session at $13.50 near its 50 day moving average currently set at $13.72. Goodyear's price action is below this important level, which makes the stock difficult to buy, as there will certainly be resistance as it approaches its 50 day.

The Goodyear Tire & Rubber Company (NYSE:GT) main activities are to develop, manufacture, market and distribute tires and rubber products. The products include lines of power transmission belts, hoses, rubber products for transportation industry and rubber-related chemicals for various applications. The company