what are your technical views on GS?

[Mbrown10012]

I see a gap up, followed by an bullish engulfing pattern. What you see?

[gferrets]

Looks good to me. It's moving upwards based on the graph and moving above the 5 and 10 day ma. It's probably due for a correction at some point here soon, but the chart looks good. Me personally, I wouldn't get long at this point as a lot of of the upward movement looks to be already made.


Ferrets

[aiki14]

Looking at the GS daily I do see a bullish engulfing candle friday as well as a break above trend, and out of channel, and a move above the 200sma for the first time since may '08. OBV and ADX D+ D- indicate the trend is persistent in this time frame. Stochastics don't provide much in this timeframe with a bullish cross between the lines being of limited value. Volume is right on the 89ma and not significantly below the 20ma.

Note on the attached charts:
Red 10sma, Blue 50sma, Light Blue 89sma, Purple 200sma. BB is White and 2σ.
4228

Since it's a good idea to look at different timeframes to confirm trends lets see what the weekly looks like.
I drew in a long termtrend line which in this timeframe is still downward, but we are coming to a meeting of the two trends. Should we cross over the longer term line at 129 I'd expect a run to the next resistance. The 50sma is at 126 on the weekly so expect significant resistance there should we approach it anytime soon. Since the trend and 50sma are potentially going to be the same this would be a significant breakthrough in my opinion. Additional resistance at 143 is pretty long term and a long way off. OBV began an upward deflection which is bullish, but it is still well below where we would like to see it. ADX D+ D- shows the down trend weakening in this timeframe but we still need to see that cross of the trendline to say the trend is reversed. Again stochastics not much help but leaning towards overbought after a bullish cross too close to the upper line to be counted on. Volume in this timeframe is well above the 89ma which is supportive of the shorter term trend.
4229


I believe that no real bull market can happen unless the financials have a major role, and GS is the undisputed heavyweight champ in that space. Watching what goes on with GS is very likely to offer clues to what's happening and what is likely to happen in the market writ large.

I'd be a buyer here with close stops for short term trades, and if we do break through the 126-129 level I'd add twice what I would risk here.

[Hondaboy]

yea what aiki said

[Horsefish]

Aiki: Great analysis, thanks.

I read some speculation that GS is a favored candidate to replace either C, BAC or GM in the Dow 30 index. This may be having some effect on GS's price also. Not a technical view but many things matter.

[shulink]

The overall trend looks good. Candlestick, stochastic and CCI are all up. However, I would set tight stop loss since stochastic is in the overbought area.

[ArkhamB]

What does sma stand for?

[aiki14]

What does sma stand for?

Simple Moving Average

[Albert0373]

Thanks for the great analysis on GS, aiki!

The downtrend on the DOW hasn't been broken yet on the weekly chart and it seems to be just hitting resistance today and could be our next leg down.

[Mbrown10012]

I bought it after the anticipated pullback. I got it at the 114.50 pullback and my exit right now will be below the engulfing pattern. For the people that follows TA, today is forming a hammer ( not the greatest sign), but I wanted to buy at pullback rather than the top of the engulfing pattern. We'll see where this goes, its a 2 percent risk.

If no hammer forms at today's, this should be more bullish.

[ArkhamB]

Thanks Aiki

[concrete]

Looking at the GS daily I do see a bullish engulfing candle friday as well as a break above trend, and out of channel, and a move above the 200sma for the first time since may '08. OBV and ADX D+ D- indicate the trend is persistent in this time frame. Stochastics don't provide much in this timeframe with a bullish cross between the lines being of limited value. Volume is right on the 89ma and not significantly below the 20ma.

Note on the attached charts:
Red 10sma, Blue 50sma, Light Blue 89sma, Purple 200sma. BB is White and 2σ.
4228

Since it's a good idea to look at different timeframes to confirm trends lets see what the weekly looks like.
I drew in a long termtrend line which in this timeframe is still downward, but we are coming to a meeting of the two trends. Should we cross over the longer term line at 129 I'd expect a run to the next resistance. The 50sma is at 126 on the weekly so expect significant resistance there should we approach it anytime soon. Since the trend and 50sma are potentially going to be the same this would be a significant breakthrough in my opinion. Additional resistance at 143 is pretty long term and a long way off. OBV began an upward deflection which is bullish, but it is still well below where we would like to see it. ADX D+ D- shows the down trend weakening in this timeframe but we still need to see that cross of the trendline to say the trend is reversed. Again stochastics not much help but leaning towards overbought after a bullish cross too close to the upper line to be counted on. Volume in this timeframe is well above the 89ma which is supportive of the shorter term trend.
4229


I believe that no real bull market can happen unless the financials have a major role, and GS is the undisputed heavyweight champ in that space. Watching what goes on with GS is very likely to offer clues to what's happening and what is likely to happen in the market writ large.

I'd be a buyer here with close stops for short term trades, and if we do break through the 126-129 level I'd add twice what I would risk here.
^^
I would think resistance at $120 for GS, what do you say?

[Bolimomo]

^^
I would think resistance at $120 for GS, what do you say?

Short squeeeeeeezeeeeee... 2:00 pm to 3:00 pm EDT: 118.50 to 121.00.

[Bolimomo]

Short squeeeeeeezeeeeee... 2:00 pm to 3:00 pm EDT: 118.50 to 121.00.

GS 123.80 and counting...

[aiki14]

I am taking some profit here going into earnings, but am going to leave a little in play for an earnings upside surprise.

[Stin]

any takes on the earnings announcement?

[aiki14]

any takes on the earnings announcement?

Earnings report was tremendous, secondary offering was a wet blanket. GS should pull back a little, market "should" love it but futures say they are unsure. Look for flat opening off the report, but I'd bet on an up day.

[pa-sale]

Oh well. Earnings were nice, but the dilution is what upset the street.

Will continue to hold this stock.

Aiki, did not know you were hip on the twitter.. I am resisting to join at all costs.

[aiki14]

Oh well. Earnings were nice, but the dilution is what upset the street.

Will continue to hold this stock.

Aiki, did not know you were hip on the twitter.. I am resisting to join at all costs.
Yep, I am a twit, just ask anybody.

Regards GS I bought back in at 122.97 and 118.50

[ZaNoob]

GS magic accounting and change of reporting method/timing magically made December earnings vanish. Hrm last I read they made $1.0 bil in losses for December just vanish into thin air. Is this correct?

Looks like a review of the books needs to be done month by month instead of quarterly to see where GS really stands.

[Bolimomo]

Oh well. Earnings were nice, but the dilution is what upset the street.


I don't read any financial report. Why was the dilution an upset? Wasn't it known way ahead of time (how many shares of GS the company is going to sell in secondary offering to raise money)? Did GS decide to sell more shares than they said before?

[aiki14]

I don't read any financial report. Why was the dilution an upset? Wasn't it known way ahead of time (how many shares of GS the company is going to sell in secondary offering to raise money)? Did GS decide to sell more shares than they said before?
The dilution was an upset because the market is irrational. It was announced ahead of time. The company sold 40.65 million shares at $123 per share and the offering was fully subscribed before market open yesterday.

[TraderMom]

GS is in a very strong short-term uptrend. I would not chase it for now since It has already moved a lot . It might need a short term correction. So I will be looking for signs of weakness for a quick swing short.

[cramerica1972]

GS is in a very strong short-term uptrend. I would not chase it for now since It has already moved a lot . It might need a short term correction. So I will be looking for signs of weakness for a quick swing short.too bad noone has the scruples to investigate GS for their role in this recession:$145 oil......evil manipulators.