Several patterns appear on the chart. First, GS has pulled back near its 50-day ( ) but not quite touched it.
Second, its range has been tightening. Width is down to its tightest levels since mid-December. This creates the potential for price expansion.
Finally, stochastics recently showed an oversold condition.
Aside from (on Wednesday, April 14), the economy is a potential catalyst for GS . Most data continues to point toward a strong recovery – especially today’s higher-than-expected producer price index.
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