GS trade ideas
Entry above 236 Now waiting for an entry above 236....
Currently stock moving sideways, could be setting up for some nice accumulation.
waiting for a nice break out.
Goldman Sachs Teetering, Waiting to Fall. Hard. Price range has had very low movement for weeks. Goldman itself has the equivalent value of trash right now but has refused to move down. Only a matter of time. Finally gave in and got it short. I can wait.
GS(daily chart). Retest of trend line, at resistance.Retest of trend line.
50 - 200 sma.
Possible Shark, Wolfe Wave.
GOLD MAN SACHS DAILY CHART SETUP Sell Setup :)
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Goldman Sachs - Not looking good...If you are looking for a large cap stock to short, Goldman Sachs might just be a good one to look at.
Fundamental
The fundamentals for Goldman is showing signs of concern -
1) Revenue has been falling for the past 3 years;
2) Net income has been hovering without growth for the past 5 years;
3) Operating and free cash flow has been falling for the past 2 years;
4) ROA is hovering below 1.00 (industry average is currently 2.85%); and
5) ROE is hovering below 10.
Technical
Price has completed a 5-wave structure since June 2016, and we are currently seeing a potential development of an ABC structure towards 185.1 - 182.8 region.
Combining the fundamental and technical development, I will have my bias on shorting GS in the short term.
Buy Goldman Sachs for 240-250Nice rebound from 200-DMA + bullish break from ascending triangle and a steeper treasury yield curve could yield a rally to 240-250 levels.
Place stops below 221
Weekly basing on support.Daily looking to retake 50day MA, confirm HL and target 100 day MA red line above.
