Wait for volume to die off on Goldman Sachs

Wait for volume to die off on Goldman Sachs

A reader requested a chart for Goldman Sachs, here is my technical analysis:

The volume on Goldman Sachs is still high meaning the stock is still being dumped. I would wait until the volume dies off before buying GS, by that time GS may have dropped to support at 150. While there is tremendous upside potential in this stock, I have staying away from it because it is currently heavily influenced by the recent news events.

At the end of this ordeal I expect Goldman to walk away with a slap on the wrist fine. But imagine when the investigation begins and the SEC comes out and says they found this and that evidence, don't expect the stock price to stay stable during those times.

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