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

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Goldman Sachs Gp (NYSE:GS) based on the price action in the company's shares. Yesterday's price range of $233.74 and $235.00 is within the prior day'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. Traders and investors interested in shares of Goldman Sachs Gp may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

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.

In the past 52 weeks, shares of Goldman Sachs Gp have traded between a low of $180.73 and a high of $250.46 and closed yesterday at $237.41, which is 31% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.3%.

Potential upside of 15.4% exists for Goldman Sachs Gp, based on a current level of $237.41 and analysts' average consensus price target of $274.00. Goldman Sachs Gp shares have support at the 50-day moving average (MA) of $236.21 and additional support at the 200-day MA of $214.04.

SmarTrend is tracking the current trend status for Goldman Sachs Gp and will alert subscribers who have GS in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle goldman sachs gp

Ticker(s): GS