I am late in shorting the first turn away from the upper level of resistance. However the price action may continue to drop to the lower range of the upper bear channel, 239 area. I do not prefer the risk to reward at this point in time and am watching for a retest of the 248-254 range to short in the first 5-7 trading days of May.
A more aggressive approach...
on the large scale theres a funnel formation indicating a rise. since 2016 this pattern also looks to me like it could be a buy option until around 97.50 (786 on fibs) to do this it will firstly need to break the downward trend resistance line.
It shows the prices can come down to the level of 1205. It is easy to trade as a positional trader in this one.
If it retraces a little bit to 1290-1300 levels then it can be an extremely great opportunity to short this one with
Duration: 4-7 days
Within the weak Tires sub industry, Goodyear has been losing upside momentum and is starting to underperform the S&P since May 2014.
- Bearish Divergence from May to now
- Price has been holding bellow the 20MA on the weekly chart with a mean rejection at the beginning of Sep
- Downtrend on the relative performance chart with the S&P
Pretty attractive bet for quarterly announcement in 3 days if the price isn't pumped beyond US $235 by then.
-The upcoming Tesla Model X by early 2015
-More details on the gigafactory battery partnership with Panasonic (Confirmed)
>>> Big loss will continue due to the cost of the land and building, Panasonic will cover the cost of the...