Stock of the day: Goldman Sachs

A notable recovery is unfolding on the Goldman Sachs chart. Last week, the stock experienced a sharp drop, erasing the gains accumulated over the previous four weeks. However, this week has seen a significant reversal, with a V-shaped bounce that occurred at a crucial juncture. The price action defended both the yellow horizontal support and the red uptrend line, reinforcing these levels as key supports.

This bounce has generated a buy signal, and the market sentiment remains positive as long as the price stays above these two critical supports. If the price were to break below these levels, it would indicate a sell signal. However, the likelihood of this bearish scenario currently appears low.

Source: https://www.axiory.com/analytics/stock-of-the-day/stock-of-the-day-goldman-sachs-1