In our most recent publication on Goodyear Tire & Rubber Co. (July 2015 - $28.99 U.S.) we reported that the rise above the trading range (dashed lines) signalled renewed investor interest and the start of a new up-leg (A). A pullback to support at the rising 40-week moving average (40wMA) then occurred (B) and now the stock appears ready to resume the up-trend (C). Behaviour indicators including the rising 40wMA and the rising trend-line (solid line) confirm the positive status. Only a decline below $30-$31 would be negative. Point & Figure measurements provide targets of $39 and $44. Higher targets are visible.
Monica Rizk is the senior technical analyst and Ron Meisels is the president of Phases & Cycles Inc. and he tweets at @Ronsbriefs. They may hold shares in companies profiled.
Chart source: www.decisionplus.com.