Trading the Setup In Goodyear

Published on Tuesday, 31 July 2012 06:36 Written by TradersHuddle Wire

New York, July 31st (TradersHuddle.com) - The Goodyear Tire & Rubber Company (NYSE:GT) ended the trading session at $10.37, near its 50 day moving average set at $10.59. Goodyear's price action placed the stock below this important level, which makes it difficult to be bought, as the stock will certainly face resistance as it approaches its 50 day moving average.

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