Goldman bearish swing to $218.70One of the limits for the year has been triggered by this stock so I am short the stock.
I typically close instruments based on weekly close so a weekly close above $307 is my reason to close and potentially switch sides.
This trade will be held for weeks once it goes into profit.
I got filled at $298.36 with a SL of $310 with a target of $218.7
This is for entertainment purposes only.
Trading come with risk and you should consult a financial advisor for financial advice.
Trade ideas
Cup and Handle Rising Wedge Under Price )o:GS broke up and out of a Rising Wedge. The RW is below price..
Rising Wedges are most often bearish so be safe. They are long term patterns and not valid unless bottom trendline is broken. Very few stocks that I have followed broke up and out of a rising wedge. CRM did at 208.28 (upper trendline of CRM's rising wedge) a while back when introduced to the Dow. Crm went on to rally upward for quite a while. If a security breaks up from a RW, it is usually not a long term break and will most often come back down to the wedge or through the bottom trendline.
This one may just keep going up forever (o: Only time will tell/The top of the bottom trendline of rising wedge is 238.75/top trendline is 251ish/From what I see, there are 2 RWs in that vicinity..
Mid cup is 190.65 Cup Low is 118.85 Cup low is 119.60
Good idea to do your research/Not a recommendation/Just an observation
$GS - Ascending Triangle into JanuaryAscending Triangle on the 2hr into the end of the year following a strong run in Q4.
Bullish news by Fed regarding bank buybacks that has yet to be taken advantage of by $GS.
Entry: >$263
TG1: $269
TG2: $276
Extended TG3: $283
Invalidated: <$254
Like & follow if you enjoy my work :)
GS ascending triangle breakoutAnother great R/R setup here with NYSE:GS . Although there are two candles that broke above the resistance line, they quickly corrected back to the trendline. Today's doji candle is a good sign of the strength of the trendline. The stop will be on the break of this trendline and the first major target is 262 followed by 267. Due to the shortened day as well as New Years low volume, it is possible for this setup to be invalidated rather quickly, so play accordingly.
Open short GS [260$] to 250$ price targetAfter +7.5% gain on news about shares repurchases programm, all banks stocks has rocked.
Many funds has been started buying stock at first trading hourse, beated long time hights of volume.
Past 3 hours the volume is decreasing each hour, I prefer to think, that big money will form thier possitions at 250$-255$ range. My goal is take 10$ or 3.5% of short positions. I convince that nobody can take price at 260$ for long time and after little down S&P500 movements stock will too decrease to level of support 250$ where fund creating thier positions.
Goldman Sachs attempting to breakoutOn Monday in our Flight Path newsletter we highlighted Goldman Sachs. We see outperformance in the financial sector as the market rotates into new leadership.
We mentioned that price has consolidated sideways in a range since the crash from the pandemic.
While a new “Go” flag had been displayed on November 9th we discussed that there was strong overhead resistance from the range and that price would need to take out those prior highs in order to see a sustained up trend.
We did think it was possible though as this rally was accompanied by strong volume as shown by the GoNoGo Oscillator.
Now, this week price has indeed rallied and we see it is making a serious attack on the resistance levels. If it can solidify its place at and above 225 then that bodes well for this Go trend to finally take hold.






















