The Goodyear Tire & Rubber Company (GT) has been under a strong bear grip, hence the stock is down -0.91% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 1.38% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2% in the last 1 week, and is up 5.79% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The Goodyear Tire & Rubber Company (NASDAQ:GT): The stock opened at $26.95 on Friday but the bulls could not build on the opening and the stock topped out at $27.11 for the day. The stock traded down to $26.70 during the day, due to lack of any buying support eventually closed down at $27.05 with a loss of -0.11% for the day. The stock had closed at $27.08 on the previous day. The total traded volume was 1,617,216 shares.
The stock has recorded a 20-day Moving Average of 3.57% and the 50-Day Moving Average is 0.59%. The Goodyear Tire & Rubber Company has dropped 16.27% during the last 3-month period . Year-to-Date the stock performance stands at -16.81%.
The Goodyear Tire & Rubber Company is a manufacturer of tires. The Companys business is the development, manufacture, distribution and sale of tires and related products and services across the world. The Company operates in four segments: North America; Europe, Middle East and Africa (EMEA); Latin America, and Asia Pacific. The North America segment is a supplier of tires to manufacturers of automobiles, motorcycles, trucks and aircraft. The EMEA segment is a supplier of tires to vehicle manufacturers across the region. The Latin America segment manufactures and sells automobile and truck tires. The Asia Pacific segment sells primarily Goodyear brand tires throughout the region and also sells the Dunlop brand in Australia and New Zealand. The Company manufactures and sells tires under the Goodyear, Dunlop, Kelly, Debica, Sava and Fulda brands and various other Goodyear owned-house brands, and the private-label brands of certain customers.