The title says “Golden” instead of “Goldman” (Ticker: GS), but the stock performance as of late gives them the golden moniker. The stock has been a strong gainer as of late and is a starting to outperform their peers. The PROBLEM is from a technical standpoint. The good ole 200-day SMA is the key resistance level. That is where GS has stalled so far today. Now if GS can CLOSE above the 200-day SMA ($208.09) and OPENS above this level, that can be considered very bullish. Especially if immediate support comes in at the 200 day-SMA. That is the critical level to watch and we are here now. That makes GS a must watch in the near term. Not just for GS itself, but the entire sector as a whole. For the entire sector to keep moving higher, GS MUST be a part of this rally. Eyes on GS in the very near term. 

about the author:

Charles Moon

Charles Moon is a technical "whiz kid" whose experience lies in scalp/swing trading. A patient educator, Charles excels at coaching/mentoring and can make complex concepts simple. Prior to joining the ranks of Prosper Trading Academy, Charles was a proprietary equities trader with Great Point Capital LLC. Coming from a retail trading background, his experience can help those with no experience trading to seasoned veterans.

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