The Goodyear Tire & Rubber Company’s stock (GT) experienced a slight increase during intraday trading, buoyed by positive indications from the Relative Strength Index (RSI) following recent oversold conditions. Despite facing a prevailing downward correctional trend in the medium term and downward pressure from the 50-day Simple Moving Average (SMA), the stock managed to close cautiously higher.
Analysts anticipate a potential retracement towards the key support level of $9.86 if the stock price consolidates below $11.27.
This forecast reflects the ongoing volatility in Goodyear’s stock amidst broader market conditions.