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. The company’s Institutional Client
Services segment provides client execution services. This segment also
engages in securities services business providing financing, securities
lending, and other brokerage services to institutional clients,
including hedge funds, mutual funds, pension funds, and foundations. 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.
To review Goldman’s stock, please take a look at the 1-year chart of
GS (The Goldman Sachs Group, Inc.) below with my added notations:
GS has formed a solid resistance at $170 (red), which would also be a
52-week high breakout if the stock could manage to break above it. In
addition, the stock has been climbing a trendline of support (blue).
These two levels combined have GS sandwiched within a common chart
pattern known as an ascending triangle. At some point, the stock will
eventually have to break one of those two levels.
The Tale of the Tape: GS has an up trending support
and a 52-week resistance level to watch. A long trade could be made on a
close above the $170. A break below the up trending support could be an
opportunity to enter a short trade.
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