From The Right Edge, Simple Trading

Simple Trading GS W – As of 18 May 2015 Close

GS W As of 18 May 2015 Close

Current Trend (W): Up

Abv/Below Value Zone: Above

Next Scheduled Report Date: 16 July 2015

52 Week High: $205.18

52 Week Low: $154.84

Current Relevant Resistance: $208.78

Current Relevant Support: $172.26

Recent Close: $204.66

Comment: Once again, I spent nearly 10 years as an employee of GS, but have no relationship or position of any kind currently.

I last posted about GS on 12 March of this year.  At that time, the stock had bounced out of the Value Zone and was coiling.  All that needed to be done was to wait for the strike.  That strike happened and price pushed up through near term resistance as well as the psychologically important $200 level.

So what now?  If you’re long, take some profits and keep the balance or, alternatively, trail your stop to the most recent swing low (around $182 from my point of view) and enjoy the ride.  The stock could run into a bit of trouble at the 2008 high, but I suspect it will eventually overcome any pullback and continue to push higher.

Bias: Long


The Trader


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