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Bearish Moving Average Cross by Goldman Sachs Group (GS)

By Shiri Gupta

Goldman Sachs Group (NYSE:GS) shares have crossed bearishly below their 10-day moving average of $169.51 on a volume of 450K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Goldman Sachs Group share prices have moved between a 52-week high of $218.77 and a 52-week low of $138.20 and are now trading 22% above that low price at $168.25 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has slid 0.6%.

SmarTrend recommended that subscribers consider buying shares of Goldman Sachs Group on July 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $155.58. Since that recommendation, shares of Goldman Sachs Group have risen 9.9%. We continue to monitor GS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses goldman sachs group

Ticker(s): GS