gt

GT(Goodyear Tire)is hitting new lows today.  The stock has been under extremely heavy pressure since its latest earnings report(Feb. 8).  Shares fell over 8% that day, its third straight post earnings flush, on very heavy trade.  The stock has drifted lower since and is now retesting a very solid support zone near the multi-month 2017 lows($29.50-$28.80).  GT is now back below its 40 week moving average, which it fell below in November as well, and is looking quite vulnerable to a deeper decline.  A close below the 2017 low could open up the downside considerably.  Until then investors should keep a close eye on the action.  Stabilization near the $29.00 area would be offer a very low risk entry opportunity. 

At time of publication we do not have a position in GT.