Traders React To Goldman Sachs Q4 Earnings; Look To Next Quarter?

Loading...
Loading...

Shares of Goldman Sachs Group Inc GS fell Friday after the firm posted a decline in Q4 earnings.

Technical trader Richard Suttmeier observed that Goldman Sachs at $175.26 "is just below its 200-day simple moving average at $175.69 and below its 50-day simple moving average at $189.92. The weekly chart is negative with its five-week modified moving average at $187.52 and its 200-week simple moving average at $142.22."

Anka Metcalf, CEO and founder fo TradeOutLoud, told Benzinga that "although the investment company reported in line earnings the shares opened lower. The uptrend is intact, price is still residing on minor support on the weekly chart which can suggest that with a market reversal to the upside the stock can potentially bounce off this area ($178.00)."

Dr. Thomas Carr commented that, "Goldman beat analyst expectations on both top and bottom lines, but failed to hit the whisper number for revenues ($8 billion), hence the selloff today. This sets up a perfect buying opportunity for the next quarter."


Goldman Sachs recently traded at $175.74, down 1.5 percent.

Posted In: TechnicalsExclusivesTrading IdeasAnka MetcalfRichard SuttmeierThomas Carr
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...