GS trade ideas
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.
+15% profit, the (current) party is over .Why you find it hard to make money . Because you don't know AND more sadly, you don't know that you don't know.
When you were laying down on your coach thinking the market is going to continue the dropping , i was here watching the red knifes on the stock market having the bitter taste of watching a live down trend .
That's why i sell you guys at top , when the market is green and good , it's me who's dumping his shares " Market order " over late party joiner head's .
I don't want to be mean , and you should not take it this way . I want to remind you that you don't know and you don't know that you don't know.
Complete your 15 years required degree for the stock-market or take a short cut and get a mentor.
#Trade_safe
Trader K
+7% profit on GS , Market fooled you but not me! Admit it .Honestly i see a lot of baboons gurus and traders . I expected a strong bounce for the market and SPECIFIED which sector and it happened .
#financials is bumping the market up .
I proudly record my Correct sentiment AGAINST all the odds out there , everyone is bearish except me . And i made a good amount of $ . If you one the bears got burnt .I'm sorry that's me i'm one of those bulls teared you down ..
keep learning , trade safe.
Good luck ,
RectangleStop would be mid rectangle whichever way rectangle breaks/above or below MR
Targets listed for up and for down
A rectangle pattern is not completed until a break out has occurred
A Rectangle is a continuation pattern that forms as a trading range during a pause in the trend. The pattern is easily identifiable by two comparable highs and two comparable lows. The highs and lows can be connected to form two parallel lines that make up the top and bottom of a rectangle . Rectangles are sometimes referred to as trading ranges, consolidation zones or congestion areas.
I have noticed sometimes a stock breaks out of rectangle only to return to it..IE Visa
Not a recommendation
Long GS GS looks good here for a long opp for earnings. Gap fill potential at 230 level highlighted in rectangle. .786 fib 235 is my target by Friday. Could over run based on blowout earnings and test 250 level. Chart broke out of long downtrend line and we are testing that old resistance as new support. The jury is out on holding that level as support. But GS looks interesting here. i have calls 220 exp this Friday. There is resistance at 224 level.
