GT: Bit of patience and the swing up might occur for 30% gains
Goodyear came out with results yesterday, and I quote:
"Q1 EPS of $0.50 beats by $0.04. // Revenue of $3.83B (+3.5% Y/Y) beats by $10M. // Looking ahead, Goodyear reaffirms prior guidance for 2018 segment operating income of $1.8B to $1.9B. Management expects the TireHub joint venture to be the "cornerstone " of its aligned distribution network."
This would bring the price up at least a bit right? Well no, it ended that day with -5%!
There's no logic in this price decline and that is why I place it in my watchlist, and will time the entry once the critical supports are hit, indicated on the chart above. Exit should be north of 32$, zone it reached many times after dips in last 2 years.
Will update when favorable zone is hit, make sure to follow for more.
"Q1 EPS of $0.50 beats by $0.04. // Revenue of $3.83B (+3.5% Y/Y) beats by $10M. // Looking ahead, Goodyear reaffirms prior guidance for 2018 segment operating income of $1.8B to $1.9B. Management expects the TireHub joint venture to be the "cornerstone " of its aligned distribution network."
This would bring the price up at least a bit right? Well no, it ended that day with -5%!
There's no logic in this price decline and that is why I place it in my watchlist, and will time the entry once the critical supports are hit, indicated on the chart above. Exit should be north of 32$, zone it reached many times after dips in last 2 years.
Will update when favorable zone is hit, make sure to follow for more.
Trade active:
I could've waited bit more perhaps, but I entered a long today @25$, Target between 32 and 36 (32 if it really struggles to climb, 36 if it shows strength)