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Goldman Sachs (NYSE : GS) Bulls Aiming for Strong Rally

Companies / Company Chart Analysis Nov 03, 2019 - 06:59 PM GMT

By: ElliottWaveForecast

Companies

Goldman Sachs (NYSE : GS) is one of the top 5 banks in USA and it’s stock is currently up $25% year-to-date. Last year, GS was on the edge of breaking its bullish trend which was established since 2009 but the  bulls took over on the right time to re-establish the main path.

The stock created a bullish higher high sequence from December 2018 low aiming for a minimum target at equal legs area $239 -$252 which is currently supporting further rally in the coming few months as GS is close to break above July 2019 peak creating another bullish sequence. June & October lows are expected to hold during short term pullback to allow the stock to continue it’s uptrend aiming for a break higher above 2018 peak.


The entire financial sector has turned bullish in the recent month after major stocks like Bank Of America, Citigroup and JP Morgan managed to break out of the consolidation range that took place during the summer correction. Consequently, Goldman Sachs will also remain supported during pullbacks based on the correlation with the rest of stock market and it’s own bullish sequence.


Get more insights about the Financial Sector and learn how to trade our blue boxes using the 3, 7 or 11 swings sequence by trying out our services 14 days . You will get access to our 78 instruments updated in 4 different time frames, Live Trading & Analysis Session done by our Expert Analysts every day, 24-hour chat room support and much more.

By Ayoub Ben Rejeb

https://elliottwave-forecast.com

ElliottWave-Forecast has built its reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including Forex majors & crosses, Commodities and a number of Equity Indices from around the World. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Elliott Wave Setup .

Copyright © 2019 ElliottWave-Forecast - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


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