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Watch for Goldman Sachs Gp to Potentially Pullback After Gaining 5.66% Yesterday

By Nick Russo

Goldman Sachs Gp (NYSE:GS) traded in a range yesterday that spanned from a low of $154.31 to a high of $162.17. Yesterday, the shares gained 5.7%, which took the trading range above the 3-day high of $153.90 on volume of 3.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Goldman Sachs Gp has traded in a range of $130.85 to $250.46 and is now at $165.28, 26% above that low. The 200-day and 50-day moving averages have moved 0.3% lower and 2.63% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Goldman Sachs Gp on January 27th, 2020 by issuing a Downtrend alert when the shares were trading at $237.00. Since that call, shares of Goldman Sachs Gp have fallen 34.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders goldman sachs gp

Ticker(s): GS