Get started

GS

Something DifferentI don't usually trade equities, but a fellow trader told me to take a look at the Goldman Sachs chart... Price is currently consolidating near the 10 year high of $250.70, after a huge bullish run in the second half of 2016. For me, what I'd be looking for now is a break & retest of this $10 channel, with targets around $218.00 and $200.00 (good psychological level), which would profit between $19 and $37/share. The icing on the cake for me was a quick look at the RSI, which shows clear bearish divergence on both the daily and 4H chart..... IF we do in fact see the breakout, it could happen within the next few days, or next week Tuesday when earnings comes out, which is estimated to be worse than last quarter. **Full Disclosure : Even if this setup works out in the end, I probably wont be trading it, just a first glance analysis.**
NYSE:GSShort
by jonathanwright
GS @ 15 min @ just a little bit - daily (3 GAP`s left behind)Basic horicontal lines (support/resistance) are: 242.42 high of last week 235.54 low of this week 225.73 opening price & low of last week GS opend this week around last weeks highs and created weekly lows around basic upside, before breaked out slightly today. Noticable, at in my opinion, are the facts, that GS created 3 GAP`s. 3 Upside GAP´s are suggesting me, that many traders are scared not be long also. Usually GAP`s got the property to be closed - in a superior upside trend. And that`s the reason why i adon`t wanna ignore all 3. I am relative surely that the market will let all 3 left behind, while next week at least. But market pressure like yesterday is always possible - even if the fundamentals are suggesting still higher prices. How ever, use the GAP`s still as an entry, guys :) i bought today some CFD`s at 241.50 :agree: 241.62 & 240.27 3rd GAP (before todays outbreak) 238.20 & 237.50 2nd GAP (after fals breakout while monday) 236.72 & 235.54 1st GAP (thursday opening, last week price targets (based on development last days) could be 243,22 last alltime high & 3rd GAP 246,64 last alltime high & 2nd GAP 248,12 last alltime high & 1st GAP superordinate prices targets (on higher time frames) are still 249,30 last week alltime high & low of this week 250,70 all time high from october`07 259,11 last weeks high & low difference JPM for example breakedout for a long minutes, hours, days. From tis point of view, don`t get panic if the price raises too much at once. Of course, it`s all relative - not only compared to other bank or financial shares! But in historical context - even before so called financial crises `07 - the numbers we`re not better as the political (trump, reds, fiscal policy) or even financial market environment (low rates - cycles is slightly starting) :) Take care & analyzed it again - it`s always your decission ... (for a bigger picture zoom the chart) This is only a analysis (for swing traders) - no recommendation !!! Buying/Selling or even only watching is always your own responsibility ... Best regards Aaron
NYSE:GSLong
by Devise2Day
1