Goldman Sachs extends gains - AnalysisGoldman Sachs' stock (GS) rose in the intraday levels, with the bank expected to launch a large scale cut to the workforce this week, amounting to 3200 jobs, with the stock rising 1.41%, or 4.92 points in the last session, settling at 353.00, with trading volumes approaching 2 million shares, above 10-day averages of 1.5 million shares.
Technically, the stock is attempting to recoup some recent losses, buoyed by positive signals from the RSI after reaching overbought levels, with negative pressure from the 50-day SMA.
Therefore I expect the stock to return lower, targeting the support of 328.67, provided the resistance of 358.47 holds on.
Goldmansachsshort
Bearish on Goldman. GSGoldman Sachs is another major company we have been following. Shaky fundamentals and the fractal picture of the stock price drive us to a bearish stance on this one.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Confirmation level, where relevant, is a pink dotted, finite line. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe.
GS Daily TimeframeSNIPER STRATEGY (new version)
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NOT ALL TARGETS CAN BE ACHIEVED, let's make that clear.
TARGETS OR ENTRY PRICES ARE STRONG SUPPORT AND RESISTANCE LEVELS.
ENTRY PRICE BLACK COLOR
TARGETS GREEN COLOR
STOP LOSS RED COLOR
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HADIMOZAYAN