Stock Pick Idea: GT

GT chart showing MACD, Stochastics and RSI.

GT (Goodyear Tire) opened today at $9.91 and closed up at $10.42. That's a really nice pop in one day for this cheap stock.

I was looking at the GT chart and saw that there could be a possible trend reversal to the upside. Goodyear Tire's previous low on the lower trend line was $9.10 on August 25th 2010. GT has a new higher low on the lower trend line marked at $9.51 on November 30th 2010; this usually means a reversal of a down trend to an up trend.

This stock can really be on the move to the $13.50 area in the near future. I'm not looking for that much of a gain for now. With MACD and Stochastics looking positive I can see at least another dollar gain from todays close of $10.42.