Chart of the Day: Is Goldman Going Higher?

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Goldman Sachs has gone seven weeks without a new high, but some traders may see further upside in the Wall Street giant.

The first pattern on today’s chart is the series of lower highs between late September and late October. GS has spent more than two weeks above that falling trendline, which may confirm the slide has …

For more, please click here to view the related idea and chart analysis on TradingView.

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Goldman Sachs (GS), daily chart, with selected patterns and indicators, courtesy of TradingView.

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About the author

David Russell

David Russell is Global Head of Market Strategy at TradeStation. Drawing on more than two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.
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