Could It Be Time To Buy Goodyear (GT)?
Posted: Friday, November 13, 2009 10:05 AM EDT
By: Market Intelligence Center Staff
Goodyear (GT) was upgraded today by analysts at Oppenheimer and the stock is now at $14.56, up $0.84 (6.12%) on volume of 1,109,326 shares traded. The analysts upped GT to Buy from Neutral, saying in a note to investors that the stock's decline after its weak Q4 forecast was overdone, and the stock could be a buying opportunity. Over the last 52 weeks the stock has ranged from a low of $3.17 to a high of $18.84. Goodyear stock has been showing support around $13.20 and resistance in the $14.42 range. Technical indicators for the stock are neutral and S&P gives GT a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on GT the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 12.50 range. [ABR-Seven Summits Strategic Investments NewsBite]
CLICK HERE: FREE Goodyear (GT) Stock ReportSee what our analysts have uncovered about Goodyear (GT).