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Payne's Picks

GT on the Cusp of a Breakout

By Payne's Picks FOXBusiness

Can Goodyear drive your portfolio higher?

The Making Money panel on the outlook for Goodyear Tire & Rubber.

Let’s talk about Goodyear Tire and Rubber (GT).

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We talked earlier about auto sales. You saw the chart (watch the video clip above) … extraordinarily well, but of course anytime you’re talking autos and vehicles, you’re talking about a global story and that number has been near record highs for a long time. I think it continues.

The company has had its issues. There is no doubt about it. I think a lot of the problems they’ve had are behind them.

The stock has got some momentum. We’re on the cusp of a classic breakout. I’d like to see it get to new all-time highs. Maybe get to $34, on better than average volume. I think that’s when the Street will come -- and you got a lot of people with neutral ratings on them, so I want to get ahead of Wall Street on this one. I think we got plenty of good upside potential. At least 20% on the upside.

DISCLOSURES

Goodyear Tire and Rubber (GT)

Owns

Family Owns

Firm Owns

Investment
Banking

CHARLES N N N N
JIM A. N N N N
HILARY N N N N
CHRIS N N N N
VERONICA N N N N
SCOTTIE N N N N

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