GS - Long swingGS Long swing in play. GS into support/high pivots + Fib .618. Im getting long GS here at $191.80. Target 1. $210.00 I will update target 2. once the first is reached.
GGGOLDMAN SACHS GROUP INC ADR EACH REPR RATIO UNSPON (USD)
48.00USDD
+0.20+0.42%
At close at Jun 11, 16:53 GMT
USD
No trades
GSD trade ideas
Goldman Sachs Testing Support, Potential Bounce!Goldman Sachs is testing support at 190.47 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) where it could potentially rise to its resistance at 230.72 (50% Fibonacci retracement, horizontal swing high resistance).
Stochastic (89, 5, 3) is testing support at 3.5% where a corresponding bounce could occur.
Are the bears pouncing on GS?Despite potentially bullish fundamentals. technical analysis on GS seems very bearish to me with not only a long-term bearish head and shoulders patter, but also a short-term forming bearish head and shoulders on the right shoulder.
The smaller bearish pattern on the larger trend shoulder seems to potentially do 2 things for long-term movement:
First, I think it helps confirm the shoulder's completion. Neither head and shoulders pattern has been confirmed or even completed by passing below the neckline. The completion of this smaller pattern and its confirmation would confirm the downward pattern for the completion of the larger 2 year pattern and, therefore, justifying a SMALL long-term, well OTM put position as less of a lottery ticket position in my opinion. I cannot emphasize SMALL enough as anything pre-confirmation is risky.
Second, the completion, confirmation, and selloff of the smaller pattern could provide the needed catalyst to force the price to the larger bearish pattern's neckline, and thus making this a possible fast mover thank if this smaller pattern were absent.
There is no definite on time frame, but I am expecting the smaller pattern to play oud over the next few weeks. I do not think that this year expirations near the best buy, but a few cheap lotto puts in case of a fast move seem worth the risk for me. My positions will probably focus on April strikes around $200, but that is subject to change.
Goldman Sachs : Bearish SignalGoldman Sachs is in head and shoulders (s1 h s2) validated configuration in weekly. The break ok the neckline has confirmed the configuration and the bearish signal. From now, a pullback over the neckline is expected before the start of the strong bearish phase. Objective is 160$.
GOLDMAN H&S CONFIRMEDWe are witnessing a softening in the market. The Dow Jones Industrials appear to be a mixed bag. Buying blind is NOT the strategy at this point - it worked for 10 years, now the easy money has been made.
As suspected, the mid-term elections have not been without incident, and investors are naturally cautious. Many big stocks are confirming bearish topping patterns - including Goldman. I shorted today, with a target below.
This is telling me that the rally in the indicies has stalled for now, and an extended period of consolidation is perhaps on the cards. On the other side, we will see a bullish continuation, in anticipation of a Trump 2020 win.
With that said, I am buying any low in the Dow, yet cautious for now, and net short.
$GS LONG IDEAGS BULLISH M,W,D
INSIDE 60MIN TO CLOSE
231.40ISH MAJOR CONFLUENCE OF FIB, WEEKLY, MONTHLY PRICE STRUCTURE
STALKING CALLS ON BREAK/RETEST OF THAT LEVEL
CONS: BANKS BEEN UNDERWHELMING DURING THE BOUNCE AND SPY AT RESISTANCE EVERYONE AND THEIR MOTHER IS LOOKING AT. SHORT LEASH ON ANY TRADE UNTIL THIS MARKET PROVES ITSELF OTHERWISE- SENTIMENT SEEMS OVERLY BULLISH ATM.
GS Goldman Sachs Technical Pullback at DownTrend Test $230Fib Pivot S3 $223.41
SVE Pivot S2 (TOS) $223.45
Downtrend tested this week at approx. $230 Rejected as expected
-Uptrend from July ‘16 Snapped in April this year to downside
#tekmunnnee Strategy into week starting 11/5 for potential Short/Put Play to $223 range
4HR 9eMA potential cross downside @ $226.72
$228.69 near term Support & Resistance test
Fibonacci 61% $222.06
If below Fibonacci, potential further downside and will reevaluate Downside Pivot Targets
