Rich Ross Is Bullish On Goldman Sachs

Rich Ross of Evercore ISI shared with the viewers of CNBC's "Trading Nation" his trading idea in Goldman Sachs Group Inc GS.He said the stock pulled back around 18 percent of its March highs, which is a one third retracement of its move higher from the October lows. He added that Goldman Sachs is currently trading close to its 200-day moving average, and he sees this price level as a critical support.

Ross believes that the stock is oversold and he wants to take a long position. He would also place a stop loss at $210.