Goldman Sachs Group, Inc. (The) Depositary Shares each representing 1/1000th Interest in a Share of Floating Rate Non-Cumulative Preferred Stock Series A
The chart posted is my labeling of GS to which I feel that we are ending wave D down within a large sideways triangle to which I am labeling it as a WAVE B . I will now look for GS to rally but under a very labored bull phase CAUTION is and should be used for long and I.T. traders
Goldman has been forming a descending triangle from 11/01/21 to present, with consistent lower highs and a demand zone from $278-$313. As we've most recently been rejected from .236 fib retracement line, price action is showing an imminent retest of the demand zone, which could lead to a 11% - 21% downside potential.
In addition, NI has steadily been decreasing...
The PEAD projected a bullish outlook for NYSE:GS after a positive under reaction following its earnings release placing the stock in drift A with an expected accuracy of 75%.
Company: 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...
Loose 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...
If 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...
Goldman 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 symmetrical triangle indicates buyers and sellers consolidating price into a tight range. When either the buyers or sellers exhaust, the winning side will push price in one direction violently.
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...
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...
There is a Head and Shoulders pattern that has formed at the PCZ of a Bearish butterfly; it is also breaking down the trend line of a Bearish Dragon and the likely target seems to be $129.
Textbook initiation of resistance with a successful retest/rejection by a bearish engulfing pattern. Stop just above pattern and resistance and I'm just looking for a simple 1:2RR down at the most recent low. Let's see how it plays out...
GS looks to be regaining an uptrend as seen from the crosses on my premium indicator.
Also, it caught out of the bottom, this could see a lot of upsides.
