Stock to Sell #3 – Goldman Sachs (GS)
Goldman Sachs (NYSE:GS) is recognized as one of the world’s leading investment banking and securities firms. But legal, economic and market conditions have resulted in three years of lower earnings, and investigations by the government have led to more declines and heavy insider selling.
The stock rallied to its 200-day moving average at $104 in August from support at $90. But it appears to have stalled there and the MACD recently flashed a sell signal. Sell GS at the market with a downside target of $90.