The Greedy Trader Weekly Analysis
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Goldman Sachs Group
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Summary:
Weekly :Broken trend support lineWeekly  MACD line has moved above its signal lineTrend resistance at 232.67
Daily :Broken trend support lineDaily  MACD line has moved below its signal linePrice has crossed below the 50 Day Moving AverageThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the Goldman Sachs Group (GS). During the week, the GS dropped -4.48 points, or -1.91%, and closed at 229.61 on Friday, August 10, 2018. It was the worst weekly loss since June 29, 2018. Weekly volume was -7% 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 (232.67). 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 (302.19) 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 technical indicators are neutral.

During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. 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 July 2, 2018 at 218.89 and reached 239.73 on July 30, 2018. GS gained -20.84 points, or -9.52%, in 28 days. The chart has formed a Rising Channel chart pattern. The uptrend support line (239.25) 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 short-term trend.

Daily Technical Indicators: [See GS daily technical indicators chart]
Daily technical indicators are neutral.

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

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 40.66
Williams' Percentage Range (W%R) 67.40
Lane's Stochastic (%D-Slow) 39.50
Greed/Fear Indicator (GFI) 37.57
Moving Average Converg./Diverg. (MACD) 1.77
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 45.93
Williams' Percentage Range (W%R) 74.60
Lane's Stochastic (%D-Slow) 63.82
Greed/Fear Indicator (GFI) 44.63
Moving Average Converg./Diverg. (MACD) -4.37
Trading Signals
Description Value Chart
Weekly Trendline Resistance 244.81
Parabolic System 239.70
Weekly Trendline Support 239.25
Upper Bollinger Band 239.14
20 Day Moving Average 234.51
Weekly Stochastic Crossing 233.98
Yearly Trendline Resistance 232.67
Daily Stochastic Crossing 232.43
50 Day Moving Average 230.20
Price 229.61
Lower Bollinger Band 227.83
Sector and Industry
Description Name Rank
Sector Financial 5
Industry Investmnt Brokerage-Natl 26
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 239.73
High Date 07/30/2018
Low 228.11
Low Date 08/10/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 244.81
Support 239.25
Low 218.89
Low Date 07/02/2018
High 239.73
High Date 07/30/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 275.31
High Date 03/12/2018
Low 218.89
Low Date 07/02/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 283.56
Support 302.19
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 232.67
Support 164.15
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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