Goldman makes the bear break GS has now broken the level given as critical in a previous post.
This may be the start of a much deeper decline in GS.
GOS trade ideas
Tuesday's the Big Day!In a previous idea I had suggested that $GS had broke out of a falling channel and started rising. There wasn't a lot of time to establish a trend but after going sideways since Aug such a long consolidation can lead to quick, large moves. That pattern has been invalidated and it now seems that in the best case there was a backtest of the falling channel upper bound. In the worst case it's a big old false breakout. In either case this will be decided by the next candle which happens to be earnings day. I would expect something similar to JPM with an EPS but showing continual QoQ declines in EPS. The question is how much bad news has been priced in. Unlike $JPM which got hit hard, $GS was already recently hit with a downgrade and has gone down in sympathy with $JPM. This could lead to any surprise upside sending shares higher. If it's a break down, though, the fall could be significant and take it back down to consolidate again in the mid-$300s.
Long $GS Into Earnings$GS really hasn't done much since Aug of last year. Most recently it has been in a falling channel that started in Nov. This changed with volume starting 17 Dec 21 and broke out of the upper bound 3 Jan 21 making three quick higher lows. The bias for this move will be a higher targeting first the last high of $423. Earnings are coming up soon and that should give us some clear direction. If you want to throw in some money for a big play I would go (and am) long into earnings. Otherwise wait until after to find the trend and ride it.
Goldman Sachs , Be carefulPotential irregular H&S in GS
Also there is a big gap remaining at 275 USD
Goldman Sachs Long over $400#GS
Banks been strong running off interest rate news from Feds. Saw a cool off mid week and sideways action ending friday. GS best level for calls is 400. This has been a trade over and over here. 405, 412 targets on calls. Puts can work below 389 but keep in mind 386 is a strong support as well. Id wait to close below this level before going short here.
Goldman Sacks Wave 4 Goldman Sacks probably finish a wave 3, we can see many divergences , also he activate Double Top Pattern.
We can find the next support in Cluster Fibonacci.
GS sits on the critical inflection point. GS struggling on the inflection point. Traded mainly sideways since our last mention of it. Looks like this may become a break. A breaking of the 161 could lead to a very significant fall in GS.
RectangleRectangle top and the pattern is neutral until a trendline is broken with a trend in that direction. This is a horizontal trading channel and the top line is resistance. There are 2 upper trendlines, but in my min the high of 42.16 was an outlier, and not part of the actual rectangle as price did not stay there long. You may want to extend the rectangle to that level, but in any case price would need to break the former high of 426.16 to consider a long entry.
The bottom trendline is support and would constitute a short entry for someone who wanted to short this.
Targets for a break to the upside of the rectangle in green and for a break to the downside are in orange.
No recommendation.
Sometimes it is only ourselves that stand in the way of reaching our goals.
I know we can be guilty of searching for what we want to see instead of seeing what is actually there. To me, this particular security, would seem a bit tired for now as it has had a great run, which may continue as a rectangle is neutral and this could hit the bottom trendline and go back to the races again for all I know (o: This one has surprised me before so there is just no telling! Fact is we can only make an educated guess, then wait for that guess to be confirmed. And then it is still just a guess (o:
W shaped recoveryI overlaid the price movement from Sept to October and it's exactly the same. Needs to break the 200sma to be sure.
Meanwhile $GS not doing well today...Big down candle so far on the big bank... $XLF with some relative weakness this morning...
Falling Wedge- Bullish - UpdateJust posting a quick update here as GS has pulled back with the broader markets- Still bullish as GS respected support nicely and is holding within a nice falling wedge. Buyer volume starting to pick back up along with some bullish hidden divergence on the RSI & a golden cross on the MACD. Bullish and will be looking for a breakout from this wedge (Broader Market Conditions Permitting). Just some support and resistance levels to watch along with some RSI-based supply and demand zones to keep an eye on in the meantime- Bullish and looking for a breakout, see previous charts attached below for previous price targets.
- Falling Wedge
- MACD Cross on the 4-Hour Timeframe
- 8-Day EMA & RSI are About to Cross on the 4-Hour Timeframe (Not Pictured)
- Bullish Hidden Divergence on the RSI on Shorter Timeframes as well
- Gap Fill on the upside circa $395.90-398.90
- Double Bottom off Support and Bullish Hammer off the VWAP on the Hourly Timeframe (Not Pictured)
-Previously Charted-
Ascending Triangle Forming- UpdateJust posting a quick update on GS as it would appear to be a nice bullish ascending triangle forming on the GS daily timeframe. Solid close yesterday after reclaiming the 50-day SMA as well sitting right on the 50-day EMA. GS is also holding a bullish falling wedge on the 4-hour and shorter timeframes. Just some support and resistance levels to watch along with some RSI-based supply and demand zones to keep an eye on in the meantime- Bullish and looking for a breakout, previous charts are attached below.
- Ascending Triangle Forming on the Daily Timeframe
- MACD Cross on the 4-Hour Timeframe (See Attached Chart Below)
- Falling Wedge on the 4-Hour Timeframe (See Attached Chart Below)
- 8-Day EMA & RSI are About to Cross on the 4-Hour Timeframe (See Attached Chart Below)
- Slight Bullish Hidden Divergence on the RSI on Shorter Timeframes
- Reclaimed the 20-day & 50-day EMA's, SMA's starting to converge as well
- Buyer Volume Starting to Pick Back Up Relative to Seller Volume
PT1- $402.62
PT2- $403.93
PT3- $405.73
PT4- $408.35+
4-Hour Timeframe
-Previously Charted-
Falling Wedge- Bullish - UpdateWill be watching GS closely for a breakout here (broader market conditions permitting). Solid close yesterday after reclaiming the 200-day SMA as well as forming a falling wedge on the 1-hour, 2-hour, and 4-hour timeframes. Just some support and resistance levels to watch along with some RSI based supply and demand zones to keep an eye on in the meantime- Bullish and looking for a breakout from this wedge
- MACD Cross on the Hourly Timeframe (Not Pictured)
- Bollinger Bands Squeezing on the Hourly Timeframe (Not Pictured)
- Bullish Hidden Divergence on the RSI
- Reclaimed the 200-day SMA
- Buyer Volume Starting to Pick Back Up Relative to Seller Volume
PT1- $403.71
PT2- $404.93
PT3- $405.73
PT4- $408.35+
Previously Charted-
Gs trade opportunity Gs has a very nice ascending triangle on the 1 year, the market is a little bit choppy right now so i would go light but untimely the set up is very nice
LONG GS: INFLATION/ FED HIKE CYCLE/ 6X PE/ -10% CORRECTION ZONELong GS @383
TP: 600+
SL: N/A
GS at -10% correction lvl. Only trading 6x 12ttm and forward earnings. fed hikes/ inflation/ increasing rates good for banks especially as GS ramps up retail exposure/ loans.
Also if u look at last 2 years GS has bounced off of the -10% lvl every time.
LAST BLOWOFF top wave structure GOLDMAN SACHS TOP NEAR427 My view of what is just ahead is a 5th and finally wave up before the market as a whole is setup to break
WILL HISTORY REPEAT ITSELF WITH GOLDMAN SACHS ? Here on the $GS chart we see the beginning of a pattern we first saw in august and September last year. Will history repeat itself ?
$GS Staging a Breakout to ATHs$GS looks to be ready to break into ATHs
Not the best volume pattern but 2 things I like:
* Tight daily candles below supply line
* Earnings out of the way and decent good reaction to them with 66% growth reported
$GS - high level overviewGS appears to be in the minor wave 3 of intermediate 5 of primary 1. After this last extension we will be topping for a primary 1, and a large drop is likely to occur. This lines up with the overall view that soon the indexes will also be coming to a wave 5 top.
This could still extend for quite some time, possibly even tag 500, but the divergence here shouldn't be ignored. On a break of the lower TL(w/ volume confirmation), the backtest is a short with a PT being the covid TL which has confluence with covid low AVWAP (well above the 61.8 which will be the ideal bottom scenario for longs)
Trading this: scalp longs and wait for signal to go short
Falling Wedge- BullishWill be watching GS closely for a breakout here (broader market conditions permitting). Solid close today after reclaiming the 50day MA as well as forming a falling wedge on the 4-hour and daily timeframes. Definitely important to note also GS does have earnings coming up on 10/15' - Just some support and resistance levels to watch along with some RSI based supply and demand zones to keep an eye on- Bullish
- Falling wedge ( bullish )
- Bullish divergence on the RSI
- MACD cross
- Reclaimed the 50-day EMA
- Earnings on 10/15'
PT1- $395.57
PT2- $396.11
PT3- $399.90 + Breakout
GS - Coiled Spring Between 8 and 20day MA(Opinion Only)
Rates would favor the bullish long setup here.
Held the 8day MA and so far 20day is resistance.
Bullish above the 8day.
10/17/21 GSGoldman Sachs Group, Inc. ( NYSE:GS )
Sector: Finance (Investment Banks/Brokers)
Current Price: $406.07
Breakout price trigger: $405.00(hold above)
Buy Zone (Top/Bottom Range): $396.75-$379.00
Price Target: $419.30-$421.60 (1st), $465.00-$467.40 (2nd)
Estimated Duration to Target: 19-21d (1st), 123-130d (2nd)
Contract of Interest: $GS 11/19/21 410c, $GS 1/21/22 430c
Trade price as of publish date: $9.70/cnt, $10.27/cnt
