Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Goodyear Tire & Rubber Co shares valued at $252,206 were purchased by MCGLADE JOHN E on Aug 13 ’24. At $8.03 per share, MCGLADE JOHN E acquired 31,408 shares. The insider’s holdings grew to 31,408 shares worth approximately $0.28 million following the completion of this transaction.
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Also, KOELLNER LAURETTE T purchased 26,000 shares, netting a total of over 205,400 in proceeds. Following the buying of shares at $7.90 each, the insider now holds 26,000 shares.
Before that, Phillips David Emmitt had sold 77,009 shares from its account. In a trade valued at $607,601, the Sr VP and General Counsel traded Goodyear Tire & Rubber Co shares for $7.89 each. Upon closing the transaction, the insider’s holdings decreased to 77,009 shares, worth approximately $0.0.
Analysts at Wolfe Research downgraded the stock from ‘”an Outperform”‘ to ‘”a Peer perform”‘ outlook in a report released in early September. As of June 13, 2024, Morgan Stanley has initiated its “an Equal-weight” rating for GT. Earlier on December 04, 2023, HSBC Securities initiated its rating. Their recommendation was “a Buy” for GT stock.
Analyzing GT Stock Performance
During the last five days, there has been a drop of approximately -3.03%. Over the course of the year, Goodyear Tire & Rubber Co shares have dropped approximately -37.50%. Shares of the company reached a 52-week high of $14.97 on 01/26/24 and a 52-week low of $7.27 on 09/11/24. A 50-day SMA is recorded $9.29, while a 200-day SMA reached $10.46. Nevertheless, trading volume fell to 2.35 million shares from 3.68 million shares the previous day.
Support And Resistance Levels for Goodyear Tire & Rubber Co (GT)
According to the 24-hour chart, there is a support level at 8.69, which, if violated, would cause prices to drop to 8.49. In the upper region, resistance lies at 9.02. The next price resistance is at 9.15. RSI (Relative Strength Index) is 40.89 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.77, which suggests the price will decrease in the coming days. Percent R is at 80.72%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
