This is a snap shot of the Goldman Sachs weekly chart end April 18, 2009. As we can see GS ran into its 50-Day moving average, but did not hold. As we look forward to the next couple of weeks with some news from the "Bank Stress Test". Will we see $102 price level for GS? Heavy resistance at 124-125 level GS is still hang on. At the time of this writing a few more banks were taken over this weekend and 2 smaller banks have repaid there TARP Fund Bailout money back, per the Treasury reports. Tech: MA are all in an uptrend, however, Stochastics are in an oversold position - note with the light volume were are having indicators are more likely to produce a false positive. Keep your powder dry, go hunting!Saturday, April 18, 2009
GS - Weekly ANALsys
This is a snap shot of the Goldman Sachs weekly chart end April 18, 2009. As we can see GS ran into its 50-Day moving average, but did not hold. As we look forward to the next couple of weeks with some news from the "Bank Stress Test". Will we see $102 price level for GS? Heavy resistance at 124-125 level GS is still hang on. At the time of this writing a few more banks were taken over this weekend and 2 smaller banks have repaid there TARP Fund Bailout money back, per the Treasury reports. Tech: MA are all in an uptrend, however, Stochastics are in an oversold position - note with the light volume were are having indicators are more likely to produce a false positive. Keep your powder dry, go hunting!