How To Trade Goldman Sachs [GS]

I post periodic updates to Goldman Sachs [GS] as I see things worthy of note and update this page. Feel free to bookmark it.

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As of 11 October 2019

Price made it up to the pivotal $220 resistance level suggested in my January 2019 note... following a detour to the $180 level of course. At a glance, the stock looks more likely to move lower than higher in the short term, but GS reports Tuesday 15 October 2019 and the company is known for positive surprises.

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As of 27 October 2019

This is a classic short pattern setting up.

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As of 10 January 2020

Seems Goldman Sachs cares not about that resistance at $220...

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As of 18 April 2020

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As of close 15 May 2020

Goldman Sachs looks interesting as a swing short candidate given this weekly chart structure. But still, no interest in being short this puppy... I'd rather wait for the financials in general [and GS in particular] to build bases from which to rally.

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As of close 17 July 2020

Like some other financials, Goldman experienced a nice earnings related pop, but managed to reverse the same day. The stock still appears to be mired in a drift higher that's the calm before a followup storm. I'm not a fan of betting against individual stocks, but I also don't like the chart pattern here for a trade to the upside. So my best advice is to stay away for now... unless the price action improves before the company's next earnings report on October 20th, that would continue to be my posture.

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As of close 7 August 2020

GS reported earnings
My last update on GS
Price fell out of the pattern from above and is trying to make a higher low. Watch this area for near term guidance on the stock.

I'm not a big fan of the strength in GS at the moment. The only thing that would really make me change my mind is a convincing move up through the $225 area.

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As of close 16 October 2020