The Goldman Sachs Group, Inc. Stock Forecast

The Goldman Sachs Group, Inc. stock price ended at 423.65€ on Friday, after gaining 1.12%.
(Updated on May 10, 2024)

GOS.DE Signals & Forecast

The The Goldman Sachs Group, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at 412.59€ and 387.21€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 15.81%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). The Goldman Sachs Group, Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Wednesday, March 20, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for The Goldman Sachs Group, Inc. stock

On the downside, the stock finds support just below today's level from accumulated volume at 394.50€ and 376.70€. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, The Goldman Sachs Group, Inc. finds support just below today's level at 394.50€. If this is broken, then the next support from accumulated volume will be at 376.70€ and 354.30€.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved 1.10€ between high and low, or 0.260%. For the last week, the stock has had daily average volatility of 0.775%.

The The Goldman Sachs Group, Inc. stock is extremely overbought on RSI14 (88). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken. Since the The Goldman Sachs Group, Inc. has been rising for 7 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.

Our recommended stop-loss: 402.79€ (-4.92%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 88 and this increases the risk substantially. There is a buy signal from a pivot bottom found 19 days ago.)

Trading Expectations (GOS.DE) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect The Goldman Sachs Group, Inc. to open at 423.78€, and during the day (based on 14 day Average True Range), to move between 417.83€ and 429.47€, which gives a possible trading interval of +/-5.82€ (+/-1.37%) up or down from last closing price. If The Goldman Sachs Group, Inc. takes out the full calculated possible swing range there will be an estimated 2.75% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ 394.50€, some 29.15€ (6.88%) from the current price of 423.65€, our system finds the risk reward attractive.

Is The Goldman Sachs Group, Inc. stock A Buy?

The Goldman Sachs Group, Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for The Goldman Sachs Group, Inc. of Monday, May 13, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.