GS trade ideas
GS UpdateSince we last posted this chart, GS has continued much lower, but is at KEY support at $151. The rout in commodities and the energy sector is putting downward pressure on the US banking system as there is a possibility that US banks that have loaned these distressed energy companies money, may not be able to repay their loans and subsequently US banks may take a massive hit as they may be forced to write off the debt.
GS Goldman Sachs Weekly Buy ZoneLooking for possible bounce off long term trend line + confluence of multiple Harmonic patterns in the same zone
Preferred buy level is around 129.85 which is a nice level and I will be looking closely if GS continues to fall to that level
Possible targets if this eventuates would be around 154.00 and then possibly up to 179.00
Shorts In FavorBasic TA
$GS keep it simple
Gap Down
Break out of triangle in to Rectangle
Supports Mapped Out along with Trendlines
The Market is Fluid
Right now i see it going lower or sideways
Only Time will tell. ;)
GS EARNINGS PLAYGS announces earnings on Wednesday before open, so look to put on this play before Tuesday market close.
Here are the plays:
Jan 29 142/170 short strangle
Probability of Profit %: 76%
Max Profit: $180/contract
Buying Power Effect: ~$1749
Break Evens: 140.20/171.80
Jan 29 138/143/167.5/172.5 iron condor
Probability of Profit %: 69%
Max Profit: $136/contract
Buying Power Effect: ~$364
Break Evens: $141.64/$168.86
Notes: As with all these earnings plays, look to cover at 50% max profit for the setup and redeploy the buying power elsewhere.
Head n Shoulders Top Is calling precaution tooThia confirmed head and shoulders' top end of last year still remains valid and don't expect price freely to fall straight the measured downside price target but still current bearish momentum indeed has a good reason to sell any strength that you may see towards $172 at best $182 but sometime this year we will see MDSTO. Go www.2waytrading.com this only will help if you are short from previous call
$151.5 Good entry level if that is given next few sessionsUsing tight stop this entry would be a good and relatively safe entry with target price $182 zone. Real-time alerts www.2waytrading.com
Goldman Sachs, Apple & Russell 2000 H & S Patterns!GS, AAPL and Smallcaps have formed MAJOR reversal patterns. Bulls better act quick before stops are triggered and margin calls occur. SCARY CHARTS!!
Possible Head & Shoulders breakoutLooks like our favorite investment bank may be have even more of a down swing in store. This head and shoulders pattern looks pretty well defined. The current candle however is sitting on a support level around 170 but if that is breached then 150-152 may be in store. as the next stop.
GS(Daily). At neckline of potential H&S pattern.GS forming a potential Head and shoulders pattern, price at neckline, weekly S/R, OBV at support.
Breaking of neckline convincingly, and staying below, would confirm the pattern.
$GS Weekly toying with H&S NecklineWatch in the coming weeks if it can negate the H&S pattern, if not it has a long ride down ahead of it.
DOW JONES OVERVIEW: GOLDMAN TRADES FLATGoldman Sachs trades laterally on both long term and short term basis.
On long term basis price has recently failed uptrend borders, marked by upper 1st standard deviations from 10 and 5-year means - thus entering lateral territory within the 1st standard deviations.
On short term basis price has failed to enter a downtrend on 1-year basis by holding within 1st standard deviation from 1-year mean. GS however is still on risk of fall on quarterly basis (price trading below 1st standard deviation from quarterly mean)
Thus if GS holds above 180 - which is the lower 1st standard deviation from 1-year mean, it is likely to hold its new lateral range (180-201) with the upper border marked by the upper 1st standard deviation from 10-year mean
Textbook bounce off the 200'sSix month uptrend still intact, some bounces off the 200 wma
1D 200ma never touched.
Yesterdays candle is a nice bullish pinbar @ 200 wma
Price tried to reach the 200 ma but the buying pressure kept it on green (with good volume as well)
Two profit target with a fixed price trailing stop plan.
Slowing downWe had a test and fail of the 202s
Momo is weakening
Supports are 197 and 193
I highly doubt it reaches for the top of the channel.
Strategy is setting alerts at 200.50 or running sell stops
This trade would all come together nicely if TLT got some bids
GS(H4). Triple Top , WW potential.GS(H4). Triple Top , WW potential.
Potential WW 5,5',5''.
OBV at resistance, slight bearish divergence.
HV at support.
RSI reaching highs for this time_frame.
Price 200.
Earnings due, 16/4. Previous Earnings cycle, double bottom reversal.
Short(IF), on entry-break of Wedge, on the downside, below point 3.
Upside brake_out, weak HS pattern(second shoulder).
First Target at point 4.
Second running to 1-4 Line.
Watch the put action in the banks.Another "london whale" event could unfold , with Oil and Euro falling so much, so fast. Watch the out-of-the-money put action in the banks for any "tells".
GS - Open Interest EvaluationIf Price Closes within the range, The Pain could be closer to $100M, in Options Premium. If it breaks Lower limit, there will be a quick rally, because of option defenders.
Similar to the linked post.
This particular setup I look for is hard to find. So far I do not have a scan. Would be awesome if one exists.
GL folks
LONG GS at the balance extremeWe go long on the balance extreme completing and HS bottom pattern. These patterns tend to have a very high success ratio.
Given that we are entering November which is a beginning of a seasonally strong period until May and the Republican party gaining more influence which often spells more deregulation and other positive effects on banks there could be a potential for some uplift.
The stock is held by Warren Buffet but at much lower prices however his portfolio managers did add some at higher levels as well.
The pattern is one of the better performing chart patterns so I use quite heave size on this one. Earnings were positive and this is an earnings winner.
I expect it to start performing again some time next week.
It could have more potential than the target charted if we gain momentum but I would use that point as my first target.
