Stock of the Day: Goldman Sachs

Goldman Sachs continues its impressive technical climb, maintaining a clean, well-structured uptrend since the beginning of April. The price action has followed a textbook rhythm — impulsive moves up, followed by consolidations, then breakouts to new highs.

The first consolidation came in the form of an ascending triangle, which broke to the upside and triggered a continuation of the bullish move. More recently, the stock formed a wedge pattern, marked with blue lines, which again resolved with a bullish breakout, reinforcing the strength of the trend.

Earlier this week, buyers successfully defended the red uptrend line, keeping the long-term momentum intact. With price now pushing beyond the wedge, Goldman Sachs looks poised for another leg higher.

Sentiment remains bullish, and as long as the price holds above the breakout zone, the path of least resistance remains to the upside. The next target? A push toward new long-term highs.

Source: https://www.axiory.com/analytics/stock-of-the-day/stock-of-the-day-goldman-sachs-5