Economies.com provides the latest technical analysis and forecast of the american stocks, in order to keep track of the trend of the US stocks.
Goldman Sachs Group’s stock price (GS) rallied in the intraday levels after leaning on the support of the 50-day SMA, amid the dominance of the main upward trend in the short term.
The gains are accompanied by a surge in trading volumes, and positive signals from the RSI after reaching oversold levels.
Therefore we expect more gains for the stock, targeting the pivotal resistance of $420.76, provided the support of $389.44 holds on
Expected trading range: between the support of $389.44 and the resistance of $420.76.
Trend forecast: Likely Bullish