The Goldman Sachs Group, Inc. Stock Forecast
The Goldman Sachs Group, Inc. stock downgraded to Hold/Accumulate
(Updated on Jun 27, 2024)
The The Goldman Sachs Group, Inc. stock price fell by -0.86% on the last day (Thursday, 27th Jun 2024) from $23.35 to $23.15. During the last trading day the stock fluctuated 1.52% from a day low at $23.09 to a day high of $23.44. The price has been going up and down for this period, and there has been a 0.56% gain for the last 2 weeks. Volume has increased on the last day by 50 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 93 thousand shares were bought and sold for approximately $2.14 million.
The stock lies in the middle of a narrow and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 3.25% during the next 3 months and, with a 90% probability hold a price between $23.54 and $24.68 at the end of this 3-month period.
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GS-PD Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The The Goldman Sachs Group, Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $23.40 and $23.27. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -1.99%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
A sell signal from a double top formation was found on Tuesday, June 18, 2024 and based on theory for this formation the price should fall by -3.71% to $22.29 within 16 trading days since signal was issued (Friday, July 12, 2024).
Support, Risk & Stop-loss for The Goldman Sachs Group, Inc. stock
The Goldman Sachs Group, Inc. finds support from accumulated volume at $23.05 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.350 between high and low, or 1.52%. For the last week the stock has had daily average volatility of 0.91%.
Our recommended stop-loss: $22.43 (-3.10%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (GS-PD) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect The Goldman Sachs Group, Inc. to open at $23.23, and during the day (based on 14 day Average True Range), to move between $22.92 and $23.38, which gives a possible trading interval of +/-$0.233 (+/-1.00%) 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 2.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $23.05 (0.43%) than the resistance at $23.40 (1.08%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is The Goldman Sachs Group, Inc. stock A Buy?
The Goldman Sachs Group, Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.872 Hold/Accumulate Downgraded
Predicted Opening Price for The Goldman Sachs Group, Inc. of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| $23.23 ( 0.333%) | $23.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GS-PD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 23.58 | 1.85% |
| R2 | 23.44 | 1.27% |
| R1 | 23.36 | 0.91% |
| Price | 23.15 | |
| S1 | 23.09 | -0.244% |
| S2 | 23.01 | -0.601% |
| S3 | 22.88 | -1.18% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 23.62 | 2.03% |
| R2 | 23.59 | 1.90% |
| R1 | 23.40 | 1.08% |
| Price | 23.15 | |
| S1 | 23.05 | -0.429% |
| S2 | 22.93 | -0.95% |
| S3 | 22.90 | -1.08% |
GS-PD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 24, 2024 | Apr 24, 2024 | May 10, 2024 | $0.381 | 1.64% |
| 2 | Jan 25, 2024 | Jan 25, 2024 | Jan 25, 2024 | $0.411 | 1.88% |
| 3 | Oct 25, 2023 | Oct 25, 2023 | Oct 25, 2023 | $0.402 | 1.97% |
| 4 | Jul 25, 2023 | Jul 25, 2023 | Jul 25, 2023 | $0.384 | 1.87% |
| 5 | Apr 24, 2023 | Apr 24, 2023 | Apr 24, 2023 | $0.342 | 1.64% |
FAQ
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