Goldman Sachs Group Inc (The) Stock Forecast
Green day on Thursday for Goldman Sachs Group Inc (The) stock after gaining 1.32%
(Updated on May 02, 2024)
The Goldman Sachs Group Inc (The) stock price gained 1.32% on the last trading day (Thursday, 2nd May 2024), rising from $426.95 to $432.57. During the last trading day the stock fluctuated 1.28% from a day low at $428.17 to a day high of $433.65. The price has risen in 7 of the last 10 days and is up by 7.31% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 504 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $881.80 million.
The stock lies in the upper part of a strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $434.10 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 10.63% during the next 3 months and, with a 90% probability hold a price between $441.49 and $480.26 at the end of this 3-month period.
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GS Signals & Forecast
Mostly positive signals in the chart today. The Goldman Sachs Group Inc (The) 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 $426.81 and $408.82. 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 11.06%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Goldman Sachs Group Inc (The) stock
Goldman Sachs Group Inc (The) finds support from accumulated volume at $413.71 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $5.48 between high and low, or 1.28%. For the last week, the stock has had daily average volatility of 1.61%.
The Goldman Sachs Group Inc (The) stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $415.04 (-4.05%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 81 and this increases the risk substantially. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (GS) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Goldman Sachs Group Inc (The) to open at $431.46, and during the day (based on 14 day Average True Range), to move between $424.31 and $440.83, which gives a possible trading interval of +/-$8.26 (+/-1.91%) up or down from last closing price. If Goldman Sachs Group Inc (The) takes out the full calculated possible swing range there will be an estimated 3.82% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $413.71, some $18.86 (4.36%) from the current price of $432.57, our system finds the risk reward attractive.
Is Goldman Sachs Group Inc (The) 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 Goldman Sachs Group Inc (The) stock to perform well in the short-term.
Current score: 4.847 Buy Candidate Unchanged
Predicted Opening Price for Goldman Sachs Group Inc (The) of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $431.46 ( 0.256%) | $432.57 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 436.94 | 1.01 % | |
| R2 | 434.85 | 0.527 % | ||
| R1 | 433.56 | 0.228 % | ||
| Current price: | 432.57 | |||
| Support | S1 | 429.37 | -0.740 % | |
| S2 | 428.08 | -1.04 % | ||
| S3 | 425.98 | -1.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 432.57 | |||
| Support | S1 | 413.71 | -4.36% | |
| S2 | 403.91 | -6.63% | ||
| S3 | 400.88 | -7.33% |
GS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 30, 2024 | May 30, 2024 | Jun 27, 2024 | $2.75 | 0.635% |
| 2 | Jan 12, 2024 | Feb 28, 2024 | Mar 28, 2024 | $2.75 | 0.658% |
| 3 | Oct 12, 2023 | Nov 29, 2023 | Dec 28, 2023 | $2.75 | 0.712% |
| 4 | Jul 19, 2023 | Aug 30, 2023 | Sep 28, 2023 | $2.75 | 0.85% |
| 5 | Apr 18, 2023 | May 31, 2023 | Sep 28, 2023 | $2.50 | 0.769% |
FAQ
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