(Finance) – Shines Goodyear Tire & Rubberwhich changed hands with an increase of 5.49%.
The quarterly report, higher than analysts’ expectations, assisted the shares of the tire manufacturer. Adjusted earnings per share for the second quarter stood at $ 0.46 versus $ 0.36 estimated by the consensus. Revenues were also higher than forecasts, amounting to 5.2 billion compared to the 4.98 billion indicated by the market.
The comparison of the title with the Nasdaq 100on a weekly basis, shows the greatest relative strength of Goodyear Tire & Rubber with respect to the index, highlighting the real attractiveness of the stock on the part of buyers.
The short trend of Goodyear Tire & Rubber is strengthening with area of resistance seen at USD 13.55, while more immediate support is seen at 12.85. A continuation of the upward trend towards 14.25 is expected.