Bullish Pattern Trade Setup On Goldman Sachs Group Inc (GS)

As poor as earnings were on Goldman Sachs Group Inc (NYSE:GS) and as negative as the press has been of late, the stock chart setup is actually very bullish. In fact, the stock chart is signaling a near-term move to the upside. Logic dictates this may be as a result of something outside of Goldman Sachs. For example, I would bet it has something to do with interest rates spiking higher in the coming weeks. That has been one of the catalysts for financial stocks in the last year. Another catalyst could be talk about getting rid of key things within Dodd-Frank. Either way, the stock chart is very bullish, therefore I am bullish. An upside move could take the stock back to the $250 level.

 

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Gareth Soloway

InTheMoneyStocks

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