The Goldman Sachs Group, Inc. provides investment banking,
securities, and investment management services, as well as financial
services to corporations, financial institutions, governments, and
high-net-worth individuals worldwide. Its Investment Banking segment
offers financial advisory services, including advisory assignments with
respect to mergers and acquisitions, divestitures, corporate defense,
risk management, and restructurings and spin-offs. The company's
Institutional Client Services segment provides client execution
services, such as fixed income, currency, and commodities client
execution related to making markets in interest rate products, credit
products, mortgages, currencies, and commodities; and equities related
to making markets in equity products, as well as executes and clears
institutional client transactions on stock, options, and futures
exchanges. Its Investing and Lending segment originates longer-term
loans; and invests in debt securities, loans, public and private equity
securities, real estate, consolidated investment entities, distressed
assets, currencies, commodities, and power generation facilities. The
company's Investment Management segment provides investment products and
services, as well as offers wealth advisory services, including
portfolio management and financial counseling, and brokerage and other
transaction services.
Please take a look at the 1 yr. chart of GS (The Goldman Sachs Group, Inc) that I have shown below with my added notations:
GS has formed a slight channel upward over the last (4) months. A
channel is simply formed through the combination of a trend line support
that runs parallel to a trend line resistance. When it comes to a
channel any (3) points can start the channel, but it's the 4th test and
beyond that confirm it. You can see that GS has multiple test points
between the channel resistance (red) and the channel support (blue).
Following the GS channel can provide you with both long and short
trading opportunities.
The Tale of the Tape: GS has formed a common chart
pattern know as a channel, in this case, an up-channel. A long
opportunity could be entered on a pullback to the channel support, which
is approaching $153. Short trades could be entered at channel
resistance OR if GS were to break below the channel support.
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