Chart of the Day – Goldman Sachs (GS)

by John Lansing | November 12, 2010 10:44 am

Today’s chart of the day is Goldman Sachs Group, Inc. (NYSE: GS[1]).

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.

Endnotes:
  1. GS: http://studio-5.financialcontent.com/investplace/quote?Symbol=GS

Source URL: http://investorplace.com/2010/11/chart-of-the-day-goldman-sachs-gs/
Short URL: http://invstplc.com/1fxiy26