Goldman Sachs faces bearish signals
Wesley Harr | [email protected]
The 5- and 10-day moving averages are negative to each other (yellow and purple lines on the six-month chart below) and looming directly above the investment bank's stock in midday trading. That level has been resistance all session.
In addition, the 50-day average is below the 100-day (orange and red lines) in another negative divergence. These technical indicators leave the 52-week low of $84.27 as a reasonable downside expectation.
GS is down 2.6 percent to $95.32 in midday trading.
(Chart courtesy of tradeMONSTER)