Chart of the Day: Will Goldman Sachs Get Going?

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Goldman Sachs has gone nowhere for two months, but some traders may look for that to change.

The first pattern on today’s chart is the $374 level. It was a weekly closing price from January 2023 that GS remained below through late December. The stock rallied above it at the end of last year and has remained there since. That could suggest …

For more, please click here to view the related idea and chart analysis on TradingView.

Goldman Sachs (GS), daily chart, with selected patterns and indicators, courtesy of TradingView.
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David Russell is VP of Market Intelligence at TradeStation Group. Drawing on two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.