Advertisement
Singapore markets closed

  • Straits Times Index

    3,176.51
    -11.15 (-0.35%)
     

  • Nikkei

    37,068.35
    -1,011.35 (-2.66%)
     

  • Hang Seng

    16,224.14
    -161.73 (-0.99%)
     

  • FTSE 100

    7,886.72
    +9.67 (+0.12%)
     

  • Bitcoin USD

    64,432.27
    +671.39 (+1.05%)
     

  • CMC Crypto 200

    1,334.09
    +21.46 (+1.66%)
     

  • S&P 500

    4,999.16
    -11.96 (-0.24%)
     

  • Dow

    37,946.39
    +171.01 (+0.45%)
     

  • Nasdaq

    15,458.33
    -143.17 (-0.92%)
     

  • Gold

    2,404.10
    +6.10 (+0.25%)
     

  • Crude Oil

    83.23
    +0.50 (+0.60%)
     

  • 10-Yr Bond

    4.6230
    -0.0240 (-0.52%)
     

  • FTSE Bursa Malaysia

    1,547.57
    +2.81 (+0.18%)
     

  • Jakarta Composite Index

    7,087.32
    -79.50 (-1.11%)
     

  • PSE Index

    6,443.00
    -80.19 (-1.23%)
     

Moving Average Crossover Alert: The Goodyear Tire & Rubber Company

Zacks Equity Research

The Goodyear Tire & Rubber Company GT could be a stock to avoid from a technical perspective, as the firm is seeing unfavorable trends on the moving average crossover front. Recently, the 50 Day Moving Average for GT broke out below the 200 Day Simple Moving Average, suggesting short-term bearishness.

This has already started to take place, as the stock has moved lower by 27.4% in the past four weeks. And with the recent moving average crossover, investors have to think that more unfavorable trading is ahead for GT stock.

If that wasn’t enough, GT isn’t looking too great from an earnings estimate revision perspective either. It appears as though many analysts have been reducing their earnings expectations for the stock lately, which is usually not a good sign of things to come.

Consider that in the last 30 days, 4 estimates have been reduced, while none has moved higher. Add this in to a similar move lower in the consensus estimate, and there is plenty of reason to be bearish here.

ADVERTISEMENT

That is why we currently have a Zacks Rank #5 (Strong Sell) on this stock and are looking for it to underperform in the weeks ahead. So, either avoid this stock or consider jumping ship until the estimates and technical factors turn around for GT. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Today's Best Stocks from Zacks

Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained and impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.

This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.

See their latest picks free >>

 

 


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
The Goodyear Tire & Rubber Company (GT) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research