Company Description: The Goodyear Tire & Rubber Company engages in the development, manufacture, distribution, and sale of tires and related products and services worldwide. It manufactures rubber tires for automobiles, trucks, buses, aviation, motorcycles, farm implements, earthmoving and mining equipment, industrial equipment, and various other applications. The company offers tires under ‘Goodyear’, ‘Dunlop’, ‘Kelly’, ‘Fulda’, ‘Debica’, ‘Sava’, and various other Goodyear owned house brands, as well as under private-label brands. It also retreads truck, aviation, and off-the-road tires; manufactures and sells tread rubber and other tire retreading materials; provides automotive repair services and miscellaneous other products and services; and manufactures and sells flaps for truck tires and other types of tires. As of December 31, 2008, the company operated approximately 1,600 tire and auto service center outlets, where it offers its products for retail sale and provides automotive repair and other services. The Goodyear Tire & Rubber Company was founded in 1898 and is based in Akron, Ohio.

Our Analysis: The shares of Goodyear Tire & Rubber Co. 'GT' moved higher yesterday on heavier than normal trading volume. In the process the shares of 'GT' completed a pair of "cup patterns" that provided a measured move to our lower price target of $16.47/share. If the shares of 'GT' close above that level, then I expect them to continue to move higher and test $20.52/share, the point from which they gapped lower on the open of trading on September 9th of last year. I see downside support on the shares of 'GT' @ $13.51/share, and have set my stops accordingly at $13.07/share.