shecantrade
Long

GS coiling and ready to jump

BATS:GS   GOLDMAN SACHS GROUP, INC. (THE)
188 1 1
Just like a frog getting ready to jump high in the air, I believe that Goldman Sachs is getting ready to join the direction of the overall market. The weekly and daily chart both provide good clues that GS             is gathering energy. This daily chart clearly shows that GS             is consolidating. It is almost exactly in the middle of its typical range confirming that it is consolidating. To determine which direction it is going next, let's look specifically at the EMA's and candlesticks .

A long trend may not be appearing yet, but since my overall market outlook is long (see my chart for ESZ2013) I believe GS             will follow suit. There is potential brewing here to support a long trading assumption. The last three days are beginning to make higher highs showing the potential for its movement long. Even though the 21 EMA hasn't been able to hold up this stock, I believe the 100 EMA will hold and begin to help GS             jump up. I will be watching GS             this week to see if the 158 level holds as support, if it does then I will be jumping in.
I like this thinking. Personally, I think it's a little bit too soon to tell. The next two or three days should should clarify the next move. I wouldn't be surprised if what you are saying comes true though
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