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Archive
- 5/3/2024 -
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Goldman Sachs Group (GS) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a third consecutive positive week for the Goldman Sachs Group (GS). During the week, the GS gained 10.57 points, or 2.47%, and closed at 438.14 on Friday, May 3, 2024. GS was trading at average weekly trading volume.
GS is a member of Financials Sector. Financials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See GS long-term trend chart]
A long-term downtrend had started on November 2, 2021 at 426.16 and reached 277.84 on July 14, 2022. GS lost 148.32 points, or 34.80%, in 36 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (293.93) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. GS may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See GS medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 289.36 and reached 442.15 on May 3, 2024. GS gained -152.79 points, or -52.80%, in 27 weeks. Price is near the trend high.
 Weekly Technical Indicators: [See GS weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.
The weekly MACD line is above its signal line since November 10, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. Use the following link to access a MACD help.
Short-term trend: [See GS short-term trend chart]
A short-term uptrend had started on April 12, 2024 at 387.12 and reached 442.15 on May 3, 2024. GS gained -55.03 points, or -14.22%, in 21 days. The price is now at the 7.29% retracement level.
 Daily Technical Indicators: [See GS daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Use the following link to access Lane's Stochastic help.
The daily MACD line is above its signal line since April 22, 2024. This is an indication that the short-term trend is up.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Financials |
9 |
| Industry |
Investment Banking & Brokerage |
120 |
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| Daily Trend |
| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Low |
395.18 |
| Low Date |
04/16/2024 |
| High |
442.15 |
| High Date |
05/03/2024 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
387.12 |
| Low Date |
04/12/2024 |
| High |
442.15 |
| High Date |
05/03/2024 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
289.36 |
| Low Date |
10/27/2023 |
| High |
442.15 |
| High Date |
05/03/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
277.84 |
| Low Date |
07/14/2022 |
| High |
442.15 |
| High Date |
05/03/2024 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Symmetric Triangle |
| Status |
Broken Resistance |
| Resistance |
338.14 |
| Support |
293.93 |
| High |
426.16 |
| High Date |
11/02/2021 |
| Low |
277.84 |
| Low Date |
07/14/2022 |
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