Analysis: 
GT is trading in an ascending channel with resistance at $22.50 and support at $20.80. A recent failure to break $22.50, coupled with a bearish RSI divergence (price higher, RSI lower), suggests a potential channel breakdown. The stock’s 0.92 beta indicates it may follow broader market weakness. A break below $21.50 could target $19.00.
Trade Plan:
Entry: $21.40 (break below channel support).
Stop Loss: $22.00 (above channel resistance).
Target: $19.00 (next support, ~12.8% downside).
Risk-Reward Ratio: 1:2.3.
Timeframe: 1-2 weeks.
Indicators: RSI, Channel Pattern, Volume.
GT is trading in an ascending channel with resistance at $22.50 and support at $20.80. A recent failure to break $22.50, coupled with a bearish RSI divergence (price higher, RSI lower), suggests a potential channel breakdown. The stock’s 0.92 beta indicates it may follow broader market weakness. A break below $21.50 could target $19.00.Trade Plan:
Entry: $21.40 (break below channel support).
Stop Loss: $22.00 (above channel resistance).
Target: $19.00 (next support, ~12.8% downside).
Risk-Reward Ratio: 1:2.3.
Timeframe: 1-2 weeks.
Indicators: RSI, Channel Pattern, Volume.
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