This Is Why You Should Short $GS...
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Every investor should be short Goldman Sachs Group Inc (NYSE:GS) right here at $212.50. Why do I say this? Well... this trade is so simple yet so powerful with an extremely high success rate. The biggest resistance trend lines are the ones that span back years. This particular one goes back to 2007 and connects through another pivot high in 2015. The current price of Goldman Sachs Group finds itself slamming into this same resistance trend line.
Considering the trend line has nailed the major highs on Goldman, there is a high percentage chance that this is also a major high. Investors who are short can expect a pull back from these highs to $165.00, possibly lower.
Let this be a major warning on the financial stocks in general. A pull back like this in Goldman over the next 6-12 months would spell major trouble for the entire stock market. Check out the chart below...
This article was written by Jenny Rebekka for on .
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