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Possible Bearish Inside Day Candle Pattern Detected for Goldman Sachs Gp (NYSE:GS)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Goldman Sachs Gp (NYSE:GS) based on the price action in the company's shares. Today's price range of $235.68 and $235.96 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Goldman Sachs Gp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Goldman Sachs Gp share prices have moved between a 52-week high of $237.77 and a 52-week low of $172.27 and are now trading 37% above that low price at $235.96 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.3%.

Goldman Sachs Gp has overhead space with shares priced $235.96, or 13.9% below the average consensus analyst price target of $274.00. Goldman Sachs Gp shares have support at the 50-day moving average (MA) of $223.05 and additional support at the 200-day MA of $208.16.

The Goldman Sachs Group, Inc., a bank holding company, is a global investment banking and securities firm specializing in investment banking, trading and principal investments, asset management and securities services. The Company provides services to corporations, financial institutions, governments, and high-net worth individuals.

SmarTrend recommended that subscribers consider buying shares of Goldman Sachs Gp on October 22nd, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $209.06. Since that recommendation, shares of Goldman Sachs Gp have risen 12.6%. We continue to monitor GS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle goldman sachs gp

Ticker(s): GS