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Goldmansachs

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.
NYSE:GS
by TipTVFinance
Goldman Sachs Is Talking To Us.For the past five years, stocks like Goldman Sachs Group Inc. (NYSE:GS) and JPMorgan Chase & Co. (NYSE:JPM) have led the rally in the stock market after being decimated during the Financial Crisis of 2008. After the "Too Big To Fail" banks were bailed out by the taxpayer, they have been able to borrow money from the Federal Reserve at 0%. They would use that money to buy US Treasuries and earn the interest - that's a nice free money policy, especially for the bankers who all basically went bust! This easy money policy by the Federal Reserve has benefited firms like Goldman Sachs Group Inc. (NYSE:GS) since 2009, but the charts are warning us that the jig may be up for the "Too Big To Fail" banks. With the stock market at all time highs, Goldman Sachs Group Inc. (NYSE:GS) is 35% below its 2007 peak, and over 10% off its most recent high made in January of 2014. With a Bearish weekly chart forming on Goldman Sachs and a proprietary time count coming into play, we will be looking to short this equity for a move lower in the coming weeks. When the time is right to enter GS for a high probability trade, we will alert all members of the Elite Round Table live. Come join myself and 3 other Pro Traders as we reveal exactly what is moving and when you should be buying and selling. This is a great time for the informed and educated trader and investor! Evan Poechman Elite Round Table, Pro Trader
NYSE:GSShort
by evanrizzo