Goldman Sachs: MACD turns bearish, SL2 breached
Goldman Sachs drops 4% as the MACD turns bearish and the second stop is breached
Goldman Sachs: MACD turns bearish, SL2 breached
Our view last week
A week ago volume had already flipped to the sell side despite a 1% weekly gain: this week Goldman Sachs slips 0.4% and seller dominance widens further, with 83% of volume on the sell side and buyers increasingly on the back foot. Price stays boxed into a tight band around the 20-day moving average, while a rising ADX shows the trend still gaining conviction. The trade has been running for 15 weeks and sits with a 16.9% gain.
This week's summary
Goldman Sachs stock is at the center of a buy signal that's been under management since week 16: this week the picture shifts, the stock sheds 4%, and the weekly MACD turns bearish for the first time, with money flow back in negative territory after weeks in the green. Price closed below the second stop level (SL2) flagged in last week's card (1020.76 area): for anyone following that level the trade is closed.
IQS Phase
40
ordinary
Signal Strength
66
medium
Sizing
STANDARD
Ranking
#29 / 120
US stocks in progress
Trade P&L %
+12.18%
from signal to date, no stop loss
Rank position
ranks 29th among the 120 Longs already running for US stocks in our ranking, with a signal strength of 66 out of 100.
Sector context
SectorFinancials
Benchmark ETFXLF
Sector regimein strong phase
Performanceweekly +1.12% · monthly +3.94%
GS belongs to the financials sector (reference ETF XLF). The sector is classified in strong phase according to our weekly reading.
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