The breakthrough of the descending highs’ resistance line indicates that the stock has overcome a key obstacle, paving the way for an upward trajectory and suggesting a bullish outlook.
Looking at NASDAQ:GT ’s weekly chart, a compelling setup is forming. The stock has been carving out a cup-and-handle pattern since mid-2023, with the cup bottoming near $9 and the handle consolidating around $12. This is a textbook bullish continuation pattern, often preceding explosive moves. The 20-week SMA is sloping upward, supporting the trend, while the ADX is rising above 25, confirming strengthening momentum. However, the handle’s tight range between $11.80 and $12.40 is critical. A breakout above $12.40, especially with a weekly close above it, could target $15—measuring the cup’s depth added to the breakout point. Volume contraction in the handle is typical, but I’d want to see a surge on the breakout for conviction. Conversely, a drop below $11.80 could invalidate the pattern, with support at $10.50 (the 50-week SMA) as the next line of defense. Stochastic RSI is nearing overbought territory, so timing is crucial—overextension could lead to a pullback first. For swing traders, this is a watchlist candidate: go long on a confirmed breakout or short on a breakdown with clear stops. NASDAQ:GT ’s correlation with auto sector trends could also drive volatility, so factor that in!
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NASDAQ:GT has been showing intriguing price action lately, and the daily chart suggests a potential breakout. After consolidating in a symmetrical triangle for weeks, the stock is testing the upper resistance near $12.50. Volume has been steadily increasing, hinting at accumulation by bulls. The 50-day EMA recently crossed above the 200-day EMA, forming a Golden Cross—a classic bullish signal. RSI is hovering around 60, indicating momentum without being overbought. If NASDAQ:GT clears $12.50 with strong volume, we could see a move toward $14, the next significant resistance from last year’s highs. However, watch the MACD: it’s flattening, suggesting indecision. A failure to break out could lead to a retest of support at $11.20, aligning with the 50-day EMA. For confirmation, I’d look for a close above $12.50 with a spike in volume and a bullish candlestick like a Marubozu. On the downside, a bearish engulfing pattern here could signal rejection. Risk management is key—set stops below $11.80 if long, or consider shorting below $11.20 if momentum fades. NASDAQ:GT ’s fundamentals (e.g., tire demand) could amplify this move, so keep an eye on sector news too!
On the weekly chart, GT’s StochRSI has formed a golden cross in the oversold zone, signaling a potential upward reversal after a period of decline, with further upside momentum toward $100.
GT’s recent multiple green closes on the daily chart and the breakthrough of the descending highs’ resistance line jointly fuel its upward momentum. Technically, GT’s MACD has formed a golden cross above the zero line, with red histogram bars lengthening, indicating strengthening upward momentum. The RSI is also in the strong zone above 50 without clear overbought signals, suggesting ample room for further gains. Overall, GT’s short-term and long-term trends are upward, with positive market sentiment and technical indicators supporting further gains, leading analysts to be bullish on GT’s future performance.
The 4H cycle failed to open upward. According to the general rule, there is a certain probability of a downward kill. The watershed below is still 3100. Only if it falls below this position can it gradually turn to short. At the same time, the current volatility is very large, and any fluctuation starts at ten points. It is recommended to reduce the position to trade; the current long structure of gold has not changed. The key support watershed below is still 3100. Above 3100, the strong bullish idea remains unchanged. Short-term operations rely on 3100 for defense, and enter the market near 3116 to gradually look up. Focus on the strength of the European session. If the European session rebounds and does not break the high, then short the US session at highs, and pay attention to the resistance of the 3148-50 area above. Today's gold short-term operation ideas suggest that rebounding should be the main focus, and callbacks should be supplemented by longs. The upper short-term focus is on the first-line resistance of 3148-3150, and the lower short-term focus is on the 3100-3110 first-line support. Short order strategy Strategy 1: Short 20% of the gold position in batches when it rebounds to around 3148-3150, stop loss 6 points, target around 3135-3125, and look at 3115 if it breaks; Long order strategy Strategy 2: Long 20% of the gold position in batches when it pulls back to around 3115-3118, stop loss 6 points, target around 3130-3140, and look at 3150 if it breaks;
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