The Greedy Trader Weekly Analysis
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Goldman Sachs Group
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Summary:
Weekly :Broken trend support lineWilliams' Percentage Range is oversoldStochastic has raised above the signal lineTrend resistance at 231.89
Daily :Stochastic signal line moved above oversold areaDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARTrend resistance at 233.38
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It was a first positive week after 3 consecutive negative weeks for the Goldman Sachs Group (GS). During the week, the GS gained 5.04 points, or 2.21%, and closed at 233.39 on Friday, June 08, 2018. Weekly volume was -23% below average.

Long-term trend: [See GS long-term trend chart]
A long-term uptrend had started on November 21, 2008 at 47.41 and reached 275.31 on March 12, 2018. GS gained -227.90 points, or -480.70%, in 485 weeks. The chart has formed a Rising Wedge chart pattern. The price is near the trend resistance line (231.89). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.

Medium-term trend: [See GS medium-term trend chart]
A medium-term uptrend had started on June 27, 2016 at 138.20 and reached 275.31 on March 12, 2018. GS gained -137.11 points, or -99.21%, in 89 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (288.70) is broken. A broken support is considered to be a long-term bearish signal. 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 support in a medium-term trend.

Weekly Technical Indicators: [See GS weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range. During the last week, weekly Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. 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 links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is below its signal line since March 16, 2018. The distance between MACD and the signal line is relatively high, but getting smaller. Use the following link to access a MACD help.

Short-term trend: [See GS short-term trend chart]
A short-term downtrend had started on March 12, 2018 at 275.31 and reached 224.09 on May 31, 2018. GS lost 51.22 points, or 18.60%, in 80 days. The chart has formed a Falling Channel chart pattern. The price is near the trend resistance line (233.38). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a short-term trend.

Daily Technical Indicators: [See GS daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 43.58
Williams' Percentage Range (W%R) 59.10
Lane's Stochastic (%D-Slow) 56.88
Greed/Fear Indicator (GFI) 47.12
Moving Average Converg./Diverg. (MACD) -3.73
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 37.78
Williams' Percentage Range (W%R) 82.60
Oversold
Lane's Stochastic (%D-Slow) 22.07
Greed/Fear Indicator (GFI) 26.67
Moving Average Converg./Diverg. (MACD) 0.77
Trading Signals
Description Value Chart
Upper Bollinger Band 245.13
50 Day Moving Average 242.00
20 Day Moving Average 234.89
Price 233.39
Weekly Trendline Resistance 233.38
Weekly Stochastic Crossing 232.39
Yearly Trendline Resistance 231.89
Daily Stochastic Crossing 231.47
Monthly Trendline Support 228.39
Parabolic System 224.11
Lower Bollinger Band 223.68
Weekly Trendline Support 210.99
Sector and Industry
Description Name Rank
Sector Financial 6
Industry Investmnt Brokerage-Natl 82
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 245.88
High Date 05/14/2018
Low 224.09
Low Date 05/31/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Test Resistance
Resistance 233.38
Support 210.99
High 275.31
High Date 03/12/2018
Low 224.09
Low Date 05/31/2018
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Test Support
Resistance 291.85
Support 228.39
Low 209.62
Low Date 05/31/2017
High 275.31
High Date 03/12/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 280.14
Support 288.70
Low 138.20
Low Date 06/27/2016
High 275.31
High Date 03/12/2018
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Test Resistance
Resistance 231.89
Support 162.07
Low 47.41
Low Date 11/21/2008
High 275.31
High Date 03/12/2018
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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