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MarthaStokesCMT-TechniTrader
Oct 5, 2023 7:15 PM

Buyback Patterns: GS 

Goldman Sachs Group, Inc. (The)NYSE

Description

As the #3 most heavily weighted stock for the TVC:DJI, NYSE:GS was one of the drivers behind the run down this week.

In February, a buyback program of 30 billion was approved. Buybacks probably commenced in March and have been boosting the price up within the trading range until recently. It may be that the buyback money has been depleted.

Goldman Sachs reports Oct 17. Revenues declined last quarter. Earnings are up and down. So probably not a great earnings report for Q3. However, the stock has support at the black line, so it doesn't have huge downside potential.
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