Goldman Sachs readies to tackle current resistance - Analysis - 13-09-2022

Goldman Sachs' stock (GS) kept rising in the intraday levels after Wall Street Journal reported the investment giant is planning to let go of hundreds of employees next week, with the stock rising 0.73%, or 2.48 points, settling at 342.58, with trading volumes surpassing 1.5 million shares, barely below 10-day averages.

Technically, the stock is buoyed by trading above the 50-day SMA, while buoyed by a positive pattern that formed in the short term, the Falling Wedge pattern, with positive signals from the RSI, preparing to tackle the pivotal resistance of 346.77. 

Therefore we expect more gains for the stock, targeting the resistance of 377.40, provided the resistance of 346.77 was breached. 

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Expected trend for today: Bullish