Goldman Sachs gathers positive momentum - Analysis - 18-07-2019

Goldman Sachs' stock fell amid attempts to gather momentum to help it rise anew and vent off overbought saturation in the RSI, as the stock settles above the support of 209.32, representing the ratio 61.8% of Fibonacci retracement levels for a descending wave in the medium term (from 244.95 to 151.60), with positive support from the 50-day SMA. 

Therefore we expect the stock to rise as long as the support of 209.32 holds on, targeting the next resistance at 222.78. 

Expected trend for today: Bullish