Goldman Sachs Group
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|It was the negative week for the Goldman Sachs Group (GS). During the week, the GS dropped -5.47 points, or -2.64%, and closed at 202.05 on Friday, May 10, 2019. It was the worst weekly loss since March 22, 2019. Weekly volume was -33% below average. |
GS is a member of Financial Sector. Financial 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 March 12, 2018 at 275.31 and reached 151.70 on December 26, 2018. GS lost 123.61 points, or 44.90%, in 41 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend resistance line (200.25). 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 December 26, 2018 at 151.70 and reached 209.97 on April 12, 2019. GS gained -58.27 points, or -38.41%, in 15 weeks. The price is now at the 13.59% retracement level.
Weekly Technical Indicators: [See GS weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. Weekly Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 above its signal line since January 25, 2019. This is an indication that the medium-term trend is up. 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 March 25, 2019 at 186.50 and reached 209.97 on April 12, 2019. GS gained -23.47 points, or -12.58%, in 18 days. The chart has formed a Descending Triangle chart pattern. The uptrend support line (205.40) 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 fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands is falling, and it was 5.01% on Friday. It is 56.47% lower than one year average. It indicates the period of low volatility of the stock price. 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.