GS trade ideas
GS Short Term Bullish b wave correction, Take profit 50% retracement
GS has been underperforming the overall Financials, XLF, we could have a little boost to complete Wave B at 50% level.
GS.. one more advanceAccording to Elliott wave count, GS is about to advance one last time as wave V to complete the correction wave. As option trader I think there is opportunity to buy some calls when price close above trendline, and SL is near the latest valley. Target is 168$. Good luck. Remember, this is short term position and the target could be reached in few days or hours.
Become a Goldman!!!!!Time to watch for Goldman Sachs. Trend line from 2009 is a very strong resistance. But guess what? Once the trend line has been breached you are the new Goldman if you know how to play. Get ready for some good options strategy. I would like to see little bit new high/high before go short. Also this is a monthly chart so better to see how the daily chart or weekly is developing. In upcoming months it will an A list to watch for short.
GS - Earnings beats estimates, will it break double bottom?Goldman has topped earnings expectations. CEO Lloyd Blankfein said the firm did well across all of its businesses, despite the uncertainty created by Britain's vote to leave the European Union.
Results highlight
Earnings per share of $3.72 and Revenue of $7.932 billion. Analysts were expecting earnings of $3 a share on revenue of $7.581 billion, according to a Thomson Reuters consensus.
Thoughts on share price
The stock is down 9% this year. What this means is despite recent sharp recovery from June 27 low, there exists a potential for further upside in the pair. Upbeat quarterly results may just be the catalyst for further upside. However, note the strong results may have been priced-in by the markets and if so we could see 'sell the fact' trade.
Double bottom on daily chart
Double bottom neckline stands at 168.90. Monday's closing is 163.33. The recent rally from June low has seen three gap up openings. The third one is usually the sign that 'dumb' money has entered. The larger falling trend line resistance is seen around 167.50.
Unless we do not see a daily closing above double bottom neckline, it is advisable to stay on the sidelines. On the other hand, a failure to take out falling trend line over next couple of weeks despite strong quarterly results could yield a fresh drop towards 140 levels.
GOLDMAN SACHS GROUP ANALYSISGOLDMAN SACHS GROUP ANALYSIS
It seems that we are at the start of a wave 4 on the minute period ?
Great Opportunity on Goldman SachsOn 19th there will be some volatility from the Earnings and we might see these movements.
Goldman Sachs (GS), LONG possibilityHere os a Chart of GS, were I try to show a possible strong uptrend. GS suffered great percentage falls after BREXIT. I see optimism in the stock, and a possibility to make a good profit.
Weekly S-H-SThe only problem I see is the 78 % retracement of the rise since February and that the current price is very close to the closing price of February. This could spur another retracement to the upside befor the S-H-S target will be rechaed.
goldman reached TP 1
The illustrated H&S of my former view (
Goldman Sachs near the neckline!
Prices below 177 --> TP1: 170
Prices below 170 --> TP2: 153 / 145 / 123
If the Support @ 170 will not be bought --> Sell Goldman!)
got triggered, the TP1 reached. These ays, we can see the next bearish wave, the next shortsignal. TP is the max. TP of the H&S
GS GOLDMAN SACHS ANALYSISGS GOLDMAN SACHS ANALYSIS
Is Goldman Sachs heading for the toilet?
Are we currently in an Intermediate period Wave 3 running SHORT ???
GSentrar corto si cierra bajo los 144.45 TP 141.00 SL 146.90. Pronostico hecho el 17 junio. El volumen de estos últimos cuatr días da fuerza a los bajistas
GSlook at symmetry of my green lines, both are down 16 days
stoks moving up... could be a 10 day rally is what I am swing trading
Starting a "markdown phase" $125 price targetI have been pretty consistent that GS has been in distribution. The most recent attempt and failure marks the "last point of supply" (LPSY) before bears attempt to put in another "sign of weakness" (SOW).
Goldman Sachs Bearish H & S !Goldman Sachs near the neckline!
Prices below 177 --> TP1: 170
Prices below 170 --> TP2: 153 / 145 / 123
If the Support @ 170 will not be bought --> Sell Goldman!
GSNice level to buy here, nice risk to reward.
Price breakout , then pullback at the demand zone.
Total trend for daily chart is going up.
GS Distribution continuesIf BEARS are unable to break resistance prices will likely trade higher into the upper trend line of the descending channel before trading lower as DISTRIBUTION continues.
There is no sign of a selling climax so my bias is that it does continue lower
Taking a Short at Goldman SachsHi all,
Here's an idea that is about going short a famous bank.
1 Goldman Sachs (GS) has been channeling steadily upwards from May 2012 up to June 2015.
This is a significant move where price rises from $100s to just over $210s.
Yes, the price action is noisy so, only patience in a long term trend can net you this kind of over 100% return.
2 However, the bulls got exhausted at $210s and we observed a clear Head & Shoulder pattern formed, as marked out.
The neckline of 171.50 was broken cleanly on 01 June 2016. The breakout reached as low as $140s, before undergoing the retracement back to $165s recently.
This Head & Shoulder breakout signals that the bullish trend in 1 is reversed into a bearish trend.
In other words, price will try to trade lower to reach $140 and beyond.
3 Since the trend is bearish, next we look at the RSI (14), as a guide on when to enter short.
This is done by matching the price peaks versus corresonding RSI peaks,
We observed that the Head of the H&S coincides with a RSI of around 70.
The next obvious price peak was around 200, matching a RSI of around 69.
This forms a sort of a RSI resistance, which will help to indicate the next possible peak.
Currently, we note that RSI has done a V turn close to the RSI resistance, with price forming the next possible peak, just after the $170.
In other words, it is likely that 167 is the starting point for the next phase of the bearish move down.
4 Lastly, the price action starting from 22 June 2015 to now, is taking the form of a classic Elliott 5 Wave pattern.
This pattern fits well and coincides with the formation of the H & S pattern.
It is likely that price will attempt to move in the form of the 5th impluse wave, to complete this Elliott 5 Wave pattern.
Projection:
Given the observations made, we project that the next phase of bearish move has already started with the aim of taking price to $140 and lower.
Short Entry Condition:
Anytime from now, at a price no cheaper than 167.00.
Stop Loss:
Above 167.00.
If price moves beyond this point, it will prove our theory that 167 is the latest peak wrong and therefore remove the basis for going short.
Taking Profit:
This will be left to your decision and according to your risk profile.
You can either hold 100% all the way down or taking partial profits.
There are 3 places where you can consider taking partial profit along the way.
TP1: 150 is basically a point where you can conservatively take a bit of profit, just in case you have something to show for if the price moved back to break even subsequently
TP2: 140 is a critical point where price will decide whether to go lower or to form a double bottom pattern and neutralize the H & S pattern.
TP3: 128.50 is the holy grail where the breakout follows through all the way. Price may even carry on lower due to the general bearish drift of the trend.
Time Limit:
All short positions should be closed by 01 Aug 2016 .
Summary:
A Head & Shoulder pattern, along with a possible Elliott 5 wave pattern, plus a RSI resistance indicates that GS is starting up a bearish move towards 140 and below.
Have a Profitable Day~!
-BreakOutArtist
