$GS Long Goldman Sachs into earningsEntry level $206 = target price $222 = Stop loss $201
Bullish indicators and price action.
Support has held on numerous occasions, limiting downside.
222 remains very strong resistance.
P/E 8.59 which is extremely low.
very reasonable 2.44 yield.
Average price target $233 | Overweight.
Company profile
Goldman Sachs Group, Inc. engages in global investment banking, securities, and investment management, which provides financial services. It operates through the following business segments: Investment Banking, Institutional Client Services, Investing and Lending, and Investment Management. The Investment Banking segment gives financial advisory services and help companies raise capital. The Institutional Client Services segment serves clients who come to buy and sell financial products, raise funding, and manage risk. The Investing and Lending segment includes investing and relationship lending activities; and making investment. The Investment Management segment involves in investment and wealth advisory services. The company was founded by Marcus Goldman in 1869 and is headquartered in New York, NY.
GOS trade ideas
$GS breaking out?$GS breaking out? It broke over the $210 resistance a second time. The last time this happened was after an earnings surprise and then it got brought down with the rest of the market. A breakout over $220 would confirm. The 50-day EMA is trending up and about to cross the 200-day EMA as well. Looking for a channel to be filled up to $240 or up to $275 (depending on recession indicators).
GS fell 2.42% on Tuesday trades but held on above 196.90GS - Goldman Sachs share prices fell 2.42% on Tuesday trades but managed to hold above 196.90 support level. Share prices have been on a consolidation mode for about two weeks from 204.54 to 195.00 and could continue to retest its previous resistance at 204.54 if it breaks and holds above 200.00 price level. A critical support price level is estimated at around 195.45.