GS trade ideas
Goldman Sachs: QuestionableThe current consolidation occurs with in the primary uptrend. Normally we would be quite bullish on such a stock, but the current flat correction is taking too long for comfort. Earlier attempts to make a push higher have not succeeded and the lack of demand while the broader market is flirting with new highs does not match the trend phase.
With considerable scepticism and caution we look to the upside as long as 210 holds as critical support. Buying is only justifiable when the trigger at 230.90 is taken out. Target then comes in at 264.50 with 250 being intermediate resistance.
Nice update on GSHIt my target now waiting to get out on MONDAY some nice gains, can let it ride
upwards towards 2nd targt but might not do that .....
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
