Goldman Fights the Downtrend
Goldman Sachs hit a new high late in the summer. Now after a healthy pullback, it may be ready to keep moving.
The first pattern on today’s chart is the falling trendline that began on August 30. GS tried to break that resistance twice last month. It was rejected both times with large bearish engulfing candles. But on Thursday it touched the line and managed to close above it the next session.
Second, notice the double-bottom around $372.50 on September 20 and October 4. Such a bullish reversal pattern could mark the end of its shorter-term downtrend.
Third, GS closed above its 8-day exponential moving average (EMA) for the last four sessions. That hasn’t happened since the pullback began.
Finally, the situation off the chart is potentially positive as interest rates rise, financials advance and GS prepares to report earnings on Friday.
TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
The first pattern on today’s chart is the falling trendline that began on August 30. GS tried to break that resistance twice last month. It was rejected both times with large bearish engulfing candles. But on Thursday it touched the line and managed to close above it the next session.
Second, notice the double-bottom around $372.50 on September 20 and October 4. Such a bullish reversal pattern could mark the end of its shorter-term downtrend.
Third, GS closed above its 8-day exponential moving average (EMA) for the last four sessions. That hasn’t happened since the pullback began.
Finally, the situation off the chart is potentially positive as interest rates rise, financials advance and GS prepares to report earnings on Friday.
TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
相关出版物
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。