Dow Jones Stocks That Are In Trouble : Goldman Sachs (GS)
Goldman Sachs Group Inc (NYSE:GS) shares look ready to fall out of a three-month uptrend channel, already breaking below critical support at its 50-day and 200-day moving averages. Watch for a move back to its late May low near $210, which would be worth a 5%+ decline from here. If that level doesn’t hold the entire post-election uptrend in GS could be at risk, potentially featuring a pullback to the $160 area.
Goldman Sachs will next report results on Oct. 17 before the bell. Analysts are looking for earnings of $4.34 per share on revenues of $7.6 billion. When GS last reported on July 18, earnings of $3.95 beat estimates by 56 cents despite a 0.6% drop in revenues.