Stock of the Day: Goldman Sachs

In today’s stock of the day, let’s take a closer look at Goldman Sachs, which recently made new long-term highs but failed to hold onto them. The move above the green horizontal resistance—the highs from September—turned out to be short-lived. The rejection from those elevated levels created a false breakout, marked with the orange rectangle. False breakouts near major highs often signal exhaustion on the buyers’ side and can precede deeper pullbacks.

For now, however, bears still need proper confirmation. That confirmation level is the blue uptrend line, which has been guiding the stock higher for weeks. As long as the price remains above this line, the broader bullish structure is technically still intact—despite recent weakness and the pressure coming from the broader index environment.

How to trade this?

• Sell signal: Price closing below the blue uptrend line would activate a textbook bearish scenario and open the way for a deeper corrective move.

• Buy signal: Price closing back above the green resistance would invalidate the false breakout narrative and re-establish bullish momentum.

Until one of these key levels breaks, Goldman Sachs sits at a decisive crossroads.

Source: https://www.axiory.com/analytics/stock-of-the-day/stock-of-the-day-goldman-sachs-6