Goldman Sachs Group Inc potential reversal!Goldman Sachs Group Inc expected to rise up to 1st resistance at 211.72 where it could potentially react off and drop down to 1st support at 183.19.
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GS trade ideas
Goldman Sachs Rising Wedge Pattern Below The Resistance LevelAs we can see on the Daily chart the price keep moving to the downside we have a double top with a break confirmation causes a huge drop into 155.0, huge continuation to the upside into the previous low the price touched and reject each times to turns the previous support into a new resistance level with crossing the 200 MA then the price drop again and reject from the 0.50 fib level the price could push higher again into the resistance before drop again as a sign to short we are waiting a breakout confirmation of the lower low of the rising wedge patter
Goldman Sachs moving in the bearish directionAfter a rather sharp and long bearish move, which we said it is going to happen in our previous Goldman Sachs analysis, we can see that the price is forming a small bullish corrective wave, as the price got oversold after the latest bearish leg. Waiting for the price to make a breakout below the indicated yellow line, then expecting a move to the blue support/resistance area. Another bullish bounce will probably form there and then the price should go lower.
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Goldman Sachs and B&B hotels mergeGoldman Sachs, one of the largest investment banks in the market, this Monday announced the ongoing negotiations for the purchase of B & B Hotels from a private investment company PAI Partners. According to the previous Financial Times report, the hotel chain is estimated at 1.9 billion euros, which is equivalent to 2.1 billion dollars.
$GS Goldman will reward the bulls. We are looking for a break of resistance in GS at $209 for a quick jump to $219, price action is limited in this zone given the speed in which the stock dropped. We hope for a speedy move up to the golden pocket at approx $228. If and when the wheels fall of tech , financials is where the wise money will continue to hide out. We are bullish financials.
GS going for a bearish or bullish move?The stock has made a rather large bearish move, that has closed beneath the support/resistance line. It has reversed and made a smaller bullish move and is now at the previously mentioned support/resistance line. We are expecting the price to bounce of this line and make another bearish move. If we see a breakout to the bullish side, we are waiting for the confirmation of the bullish move, and the entering a long position.
On the four hour chart we can see, that the price has recently broken the support/resistance line, that could indicate a smaller bullish move if we see a confirmation of the breakout.
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We wish you good luck with your trading!