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If $GS Fails To Breakout, This Is The Downside Target

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This article is published in collaboration with Scutify, where you can find real-time markets and stock commentary from Robert Marcin, Cody Willard and others. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

Goldman Sachs Group Inc (NYSE:GS) is hammering against the 2007 highs, the price it was at just before the financial crisis unfolded. This $252 level is huge because it represents that pre-crisis level. Investors should be aware of the two possible scenarios. First, if Goldman Sachs breaks out above the 2007 highs, it will head easily to $300. However, if it fails to breakout, investors should expect a stock price correction to $218. As of now, investors should angle their investing to expect the downside because the stock has not broken out yet. This means, investors can be short shares of Goldman Sachs. However, any closing price above $252 would be the stop out price. Should Goldman fail to breakout, enjoy the drop in the stock to $218.00.

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Stock chart price analysis on Goldman Sachs Group shares


This article was written by Markus Teller for on .

This article published in collaboration with Scutify, the best app for traders and investors. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

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