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Goldman Sachs Reports Earnings Next Week

Long
NYSE:GS   GOLDMAN SACHS GROUP INC
The last two weeks have seen a sharp pivot toward technology stocks and the Nasdaq. But traders might want to remember that big financials including Goldman Sachs kick off earnings season next week.

Several patterns appear on the chart. First, GS has pulled back near its 50-day simple moving average ( SMA ) but not quite touched it.

Second, its range has been tightening. Bollinger Band 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 earnings (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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