Goldman Sachs Group WCA - Symmetrical TriangleCompany: Goldman Sachs Group, Inc.
Ticker: GS
Exchange: NYSE
Sector: Financials
Introduction:
In this analysis, we are examining Goldman Sachs Group, Inc. (GS) on the NYSE, a key player in the financial sector. The weekly chart indicates a potential bullish reversal in the form of a classic Symmetrical Triangle pattern that has been forming over the past 287 days.
Symmetrical Triangle Pattern:
The Symmetrical Triangle is usually a sign of indecision, in this case, it seems to be acting as a reversal pattern after a downward trend.
Analysis:
Goldman Sachs' previous trend was downward, represented by the blue resistance line. However, this downward trend seems to have been interrupted by the symmetrical triangle pattern, suggesting a potential reversal.
The price is above the 200 EMA, indicating a bullish environment. Currently, it appears that the price may close above the diagonal resistance. Confirmation of this should occur when the candle closes. If it does, a long position could be considered. The price target in the event of a successful breakout would be 453, corresponding to a rise of about 32%. A minor resistance could be encountered at 420.
Conclusion:
Goldman Sachs' weekly chart presents a promising bullish reversal setup. If confirmed by a breakout above the diagonal resistance, this could offer an attractive long trading opportunity.
Please remember, this analysis should form part of your overall market research and risk management strategy, and is not direct trading advice.
If you found this analysis helpful, please consider liking, sharing, and following for more insights. Wishing you successful trading!
Best regards,
Karim Subhieh
Disclaimer: This analysis is not financial advice and is intended for educational purposes only. Always conduct your own research and consult with a financial advisor before making investment decisions.
Trade ideas
Ascending Triangle Within a Symmetrical TriangleLoose triangle with open spaces noted.
Tight triangles perform better than loose triangles.
Strong candle today so far, but has stalled for now at a horizontal and a diagonal resistance intersection. Like traffic intersections are the most likely area for a fender bender or a wreck.
Intersections in a chart can be the same. These can be a tough resistance zone to get through, but by no means is it ruled out and stocks do it all the time.
No recommendation.
Who enjoys being manipulated? LOL Not me
Earnings miss.
Possible computer algorithms firing to complete a pattern. I have no clue. Volume bar does not match price move.
No recommendation.
GS The Goldman Sachs Group Options Ahead of EarningsIf you haven`t sold GS here:
Then analyzing the options chain of GS The Goldman Sachs Group prior to the earnings report this week,
I would consider purchasing the 330usd strike price Calls with
an expiration date of 2023-7-28,
for a premium of approximately $5.55.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
GS Pre Earnings LONGGoldman Sachs pivoted from a low on July 11th into a trend up until July 14th during
which it pulled back. Since earnings are on July 19th, I see room now for a pre-earnings
long entry. The MTF RSI indicator shows the lower TF RSI in blue reflecting the pullback
while the higher TF RSI in black shows the longer trend up with the RSI holding support at
50. The zero-lag MACD shows a line cross under a slightly positive histogram suggesting the
pullback will reverse to continuation. Overall, I see GS as being suitable for long entries
which I will take as call options. I will zoom into the 5 or 15 minute chart and look for a
pivot low as the ideal entry. I will set a stop loss of 10% while taking one contract as
a strike $330 expiring July 21st and another $330 expiring July 28th. I have picked targets
based on the upper standard deviations of the VWAP bands anchored back to the pivot
low on July 11th. Overall, I am expecting a 100% ROI on the two contracts.
Can Goldman fall to $250? Bearish divergence on the weekly time frame indicated a bearish move. Which has already happened, giving up control from the bulls to bears. Creating a lower high which could indicate a upcoming move towards $250.
Over bought stochastic and Market exhaustion of the RSI to the upside. Could support my analysis which means NYSE:GS could fall 24-38% in the coming months.
This low would also provide perfect buying opportunity for the overall bullish annual trend.
$GS Trade Idea - Bank Stress Test With the Bank Stress Test showing positive results, here's a possible trade gameplan for GS into qEnd provided conditions are met and we have a bullish reaction to GDP + Unemployment numbers in pre-market tomorrow.
The path on the 15 min chart looks messy since that's the lowest resolution I can publish, so I've included a 5 min version in the screenshot below.
Ideal Gameplan:
1. Price opens above risky area shown on chart and holds above the orange rectangle on the pullback
2. Long 6/30 $325C or $327.5C
3. Can cut some at 10 am if you wish, or hold for the push into 11:30
4. On the first decent pullback after 10 am, grab some $330C "lottos" if you've scaled out Cost Basis from the initial call position
5. By 11:30, price should've made an HH that will only be exceeded near the EOD or on Friday morning (can trim most/all of $330C here if you want)
6. If above conditions are met and price continues to base above $327.50-328 during the afternoon session, can look to re-enter $330C for the late-day push, holding final runners for Friday, but keep in mind there will be theta burn overnight
Note:
If price opens in the orange box shown, or enters orange box during the initial pullback after open, it's best to wait until the orange box is safely cleared, as there is a chance we backtest the afterhours PA under $320
GS AnalysisThis trend from last year's "MAY"(2022) follows a perfect support pattern at the above-mentioned levels. We can also notice the Head and shoulder pattern formed here.
Now, after forming the H&S pattern, it has again retested the support quickly which means that there is a high probability that it is gonna be "bearish". If it falls the below the support line(around $312.60), then our next support would be $303, followed by $286.
If it goes the other way, I mean if it again retests the support(around $312.60) and shoots up, then our first take profit should be around "$338".
This is what it looks like based on my analysis and chart pattern
Please do your own analysis and trade wisely folks - Thanks ;)
Note: You don't need to know all the chart patterns/technical indicators/oscillators to be a good trader/pro. You can be a successful trader with just support and resistance chart patterns/ and a few commonly used indicators. I support my above statement by telling if a stock needs to move in a certain direction, it is only possible when a good bunch of people uses that pattern/indicator. So when we learn the common indicators we can master the trade
Even though you learn some very good indicator analysis and when another good bunch of people don't use it or know, you will still make a bad trade as other people won't follow that pattern, and you go in different directions when the good bunch goes in another direction.
Just thought of sharing this piece of information with you all folks. Agree/disagree ?
GS Bear FlagGS bear flag formation and double top pattern, with a clear RSI bearish divergence in formation.
Goldman Sachs has been making a series of higher lows on the 2H time frame and had shown no sign of weakness. However, after the recent failure of First Republic Bank, FRC, the spotlight is back on the banking sector. FRC assets were sized by the FDIC the past week and JPMorgan stepped in to buy the failed bank. And while the President assures all deposits are fine, and Jerome Powell assures the banking industry is solid; we also have Warren Buffet and Charlie Munger shedding huge positions in banks and sounding the alarm on the banking industry.
Goldman Sachs looks bearish on a break below $338.50. Demand area at $338.50-$340. Resistance at $345. A stock to have on watch this week as we have the interest rate decision this week and FOMC!
Our OptionsSwing Terminal picked up bearish activity on the $332.50 strike for this week at $0.85.






















