Goldman Sachs(NYSE:GS) Stock Tests Key Support Level

Leading financial giant, Goldman Sachs Group Inc (NYSE:GS) has been under severe selling pressure recently. The stock topped out in early March around $255.00 a share. Today, Goldman Sachs stock is trading around $211.75 a share. The stock is now trading around a key break-point level which is $210.00 a share. A monthly chart close below this level would likely signal further downside for this financial institution.

Traders and investors should take note that the next major chart support level for Goldman Sachs stock is down around the $188.00 level. This chart level would be a major buying opportunity should the stock decline further. It is also important to remember as Goldman Sachs stock price declines it will usually cause the rest of the financial sector to fall along with it. We will be keeping a close eye on this stock in the near future as it will tell us a lot about the direction of the financial sector and the overall stock market.

 

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