today I have been working to the analysis of the of Goldman Sachs Group (the guys who rule the world, according to independent trader Alessio Rastani), a financial institution whose stock (ticker: GS) trades on the NYSE.
My job (here) is price analysis and leave politics to others (in this Blog’s context). I think there is a long opportunity coming soon in this stock. Please review my video analysis below:
Here below in the picture is the trading plan for Goldman Sachs going forward. The price of this stock is trading in extensions long at this very moment and the second target of the last long setup was hit around the 143 area.
This is a potential, high probable scenario I see going forward (see weekly chart below):
As anticipated, the stock is trading in extensions on the daily chart and has its next long setup in the 136.90 area with a stop below 134.40. If the general market (i.e. S&P500) continues higher, GS could then move along with it into the 1st target at 151.30 and then 2nd target at 158.90.
The 149 area could oppose some sort of resistance and we could see I mild correction before price gets into targets.
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