A look at Goldman , this is a younger company than most and seem particularly vulnerable to a financial crash I used mostly monthly resistance, very rare will weekly matter in this case
Back to the low 170's? Seems reasonable. Poor sector performance, nice H&S pattern. We're going for it...
The H&S target has been reached, leaving GS at the rising trend line of the large rising wedge that has been in play since the 2008 crash. The RSI is showing that GS is oversold while the MACD is still taking a plunge. A MACD recovery and bullish cross would be a good sign. If the price closes under the rising trend line, I expect a large plunge to the 0.786...
GS is approaching support at 171.75 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal overlap support) where it could potentially rise to its resistance at 209.46 (horizontal pullback resistance). Stochastic (89, 5, 3) is approaching support at 3.1% where a corresponding bounce could occur.
Autonomous AI Vision Fund Upgrades Goldman Sachs to Sell $179.5 Strong Sell Rating $270
GS is approaching support at 171.75 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal overlap support) where price could bounce up to its resistance at 209.46 (61.8% Fibonacci retracement, horizontal pullback resistance). Stochastic (89, 5, 3) is approaching its support at 3.15%.
Watch for weekly close. Starter position entered on Monday.
Goldman Sachs is in head and shoulders (s1 h s2) validated configuration in weekly. The break ok the neckline has confirmed the configuration and the bearish signal. From now, a pullback over the neckline is expected before the start of the strong bearish phase. Objective is 160$.
Possible H&S PO at 168 area $GS
We are witnessing a softening in the market. The Dow Jones Industrials appear to be a mixed bag. Buying blind is NOT the strategy at this point - it worked for 10 years, now the easy money has been made. As suspected, the mid-term elections have not been without incident, and investors are naturally cautious. Many big stocks are confirming bearish topping...
NYSE:WFC Fanning through some charts and saw this pretty nice H&S on WFC. Setting alerts on this one. Happy trading!
AT40 = 11.2% of stocks are trading above their respective 40-day moving averages (DMAs) (oversold day #2) AT200 = 31.7% of stocks are trading above their respective 200DMAs () VIX = 23.0 (an increase of 44.0%) Short-term Trading Call: bullish (change from neutral) Commentary The market sell-off is unfolding quickly. AT40 (T2108), the percentage of stocks trading...
H&S about to break down, target is to support line around $200
Possible move up if it breaks 200 MA. Respecting the trendline. We need to see the volume come, come on boys lets pamp it, so we ca short better price.
There is resistance right above here for $GS. I would consider it positive if we consolidate right here before trying to break through it again. If it makes it through, looking at $255-260 imo.
Previous resistance acting as support and closed above 100 EMA . Target 244 XLF telling a different story. Stay cautious.