Market Overview

Goldman Sachs Ripe For A Pullback

Share:
Related GS
Asset Management Startup Pagaya Raises $14M From Former American Express CEO, Others
Musk: Tesla Will Remain Public
Warren Buffett's New Guru Page, Part — (GuruFocus)
Related XLF
Best Sector ETFs For September: Fed Plays
The Turkish Crisis: What You Need To Know About Erdogan, The Lira, Turkey
Sector ETF Week In Review For September 10-14 (Seeking Alpha)

Goldman (GS) has been on a tear since its breakout over $126 in late 2012. Pullbacks are healthy in an uptrend and GS might be overdue, much like the overall market. The weekly chart has been overbought for a few weeks and now retreating out of this territory. The MACD looks to be rolling over as well.


The daily chart shows strong support at $147.50-$147 area right in confluence with the 50 EMA support at $146.75. MACD has been showing strong divergence from the sideways action. If a breakdown occurs a pullback to $130-$126 area is likely.

Posted-In: Short Ideas Technicals Trading Ideas

 

Related Articles (XLF + GS)

View Comments and Join the Discussion!

UPDATE: Moody's Review for Downgrade Ratings of MBIA

Mid-Day Market Update: Herman Miller Surges On Upbeat Earnings, Scholastic Falls