Today we'll analyze the Stock GS for online market trading,
Technical indicators to notice:
1- Last bearish trend was from 180.80$ (02/27/08) to 155.58$ (03/10/08) a 25.22$ move
2- The current bullish trend started from 155.58$ at 03/10/08 and is currently trading at 165.44$.
3- The stock current support level is at 165.21 which is the 38.20% fibonacci retracement of the last 25.22$ move.
4- The stock current resistance level is at 168.19 which is the 50.00% fibonacci retracement of the last 25.22$ move.
5- The Stock traded in a bearish channel identifed by support at 155.58 and 172.7, resistance between 180.8 and 207.78 which was broken up at 165.44 in higher than usual volume.
6- According to ADX, the trend is currently strong bearish, which is getting stronger.
Conclusion:
GS is currently trading a strong bearish wave, which is becoming stronger .
Technical indicators and chart patterns show bullish direction,
recommend stopping short positions or entering long position or bullish spread options strategy .
Resistance Levels: 168.19, 171.17, 180.80, 187.66, 196.39.
Support Levels: 165.21, 163.34, 163.11, 161.67, 161.53, 160.51, 159.35, 155.58, 155.58,.
Friday, March 14, 2008
Goldman Sachs Group, Inc. (GS) Technical Analysis
That's all for today ... thanks for reading the post,
come back soon for more updates,
use the search to lookup for more interesting stocks you might be interested in,
feel free to leave your comments on the post, or contact me
enjoy your online market trading!!
have a nice day,
Shadi
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