The Goldman Sachs Group, Inc. Stock Forecast

The Goldman Sachs Group, Inc. stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Jun 28, 2024)

GOS.F Signals & Forecast

The The Goldman Sachs Group, Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately 425.09€. On a fall, the stock will find some support from the long-term average at approximately 423.26€. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -2.31%. Further fall is indicated until a new bottom pivot has been found.

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 381.55€. 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 381.55€ and 379.45€.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved 7.65€ between high and low, or 1.83%. For the last week the stock has had daily average volatility of 1.19%.

Our recommended stop-loss: 400.22€ (-5.51%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 54 days ago.)

Trading Expectations (GOS.F) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect The Goldman Sachs Group, Inc. to open at 422.67€, and during the day (based on 14 day Average True Range), to move between 417.82€ and 429.28€, which gives a possible trading interval of +/-5.73€ (+/-1.35%) 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 2.71% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 426.65€ (0.73%) than the support at 394.50€ (6.86%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

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

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for The Goldman Sachs Group, Inc. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 3.274 Buy Candidate Upgraded

Predicted Opening Price for The Goldman Sachs Group, Inc. of Monday, July 1, 2024

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