Sponsored By:

Dynamic Breakout Should Propel Goldman Sachs Higher

On a day when most stocks took a breather, GS hit a new high

   

Goldman Sachs (GS) — This recently added Dow 30 component is one of the world’s leading investment banking and securities firms. S&P estimates it will earn $15.50 per share in 2013 and $16 in 2014. It has a 12-month price target of $180.

On a day when most stocks took a breather, it is sometimes valuable to note those that broke to new highs. Not only did GS break out, but it accomplished it following six months of consolidating within a bullish rectangle. This is a dynamic breakout that should propel GS to a trading target of $180 in the short run instead of 12 months.

Currently trading at just over 10 times 2014 estimated earnings, the six-month trading target is $190. Buy GS as a short- and intermediate-term trade.

12 03 13 gs 300x194 Dynamic Breakout Should Propel Goldman Sachs Higher
Click to Enlarge

chart key 300x84 Dynamic Breakout Should Propel Goldman Sachs Higher


Article printed from InvestorPlace Media, http://investorplace.com/2013/12/trade-day-goldman-sachs-gs/.

©2014 InvestorPlace Media, LLC

Comments are currently unavailable. Please check back soon.