The market keeps a bearish trend. After bouncing from a support zone between 160.00 and 150.00 levels, the price moved upward to SMA100. We can see two attempts for breaking this line, but they were not successful. SMA100 and 200.00 resistance make a barrier for further upward movement, and we should expect for the reversal from this zone.
If price bounces from...
GS is approaching its resistance at 211.21 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal pullback resistance) where it could reverse to its support at 182.59.
Stochastic is also approaching resistance where a reversal could occur.
GS is in a tight range. Market is trending up with potentiatly more positive news ahead on trade. 50MA is pojnting up on the daily and I believe $203 in the near term is posible. My stop is set at a close of $191.50.
GS is currently trending down until the highs on the chart are gained.
Very well respected fib on the chart. Here is the fib zoomed out -
I wouldn't be surprised if the gap was filled or the 786 was tested for support.
If the 0.618 is broken then a move to the 0.5 or 0.382 is on the cards.
GS is approaching its resistance at 211.21 (61.8% & 50% Fibonacci retracement, horizontal overlap resistance) where it could reverse to its support at 182.59.
Stochastic is also approaching resistance at where a reversal could occur.
Not financial advice. Do your own research. The ideas shared here are the personal opinions of the BitDoctor team. Trade at your risk.
Took a really profitable trade on GS yesterday and got out right before it hit the top. Now I am looking for a more long term trade since we hit a bottom in intraday trading today. I'm not going to touch GS unless it breaks a key...
GS is approaching resistance 211 (61.8% Fibonacci extension, 50% & 61.8% Fibonacci retracement, horizontal pullback resistance) where it could potentially revese down to its support.
Stochastic is approaching its resistance where a corresponding drop could occur.
The whole financial sector looks too risky for me with the fed halting interest rate hikes and stopping QT. GS is the exception.. and maybe AMTD.
Fib loves support at $170 12/31-1/14
Retested support at $190
If it can punch through $203 (resistance) I think this thing is mooning to $210
At the very least this is a safe trade to $203 because it has to retest...
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NYSE:GS
