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Chart of the Day – Goldman Sachs (GS)

A breakout to $175 could occur in December


Today’s chart of the day is Goldman Sachs Group, Inc. (NYSE: GS).

After breaking out to new multi-month highs, the stock has been consolidating in a bull flag/bullish pennant chart formation for the past four days, and will likely continue to do so today.

When the consolidation is over, we should see a breakout with a move to the $175 area some time in December.

You can buy the stock here or trade the GS Dec 175 Calls for around $2.

Article printed from InvestorPlace Media, http://investorplace.com/2010/11/chart-of-the-day-goldman-sachs-gs/.

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