CFD Trading – Buy Recommendation On Goldman Sachs (GS.NYS)

Goldman Sachs Group Inc. Stock Code GS.NYS
Buy at $202.20. Stop at $181.20 and target at $247.20

Price broke above the cloud on 26 May 2020 and has been above the cloud since that breakout. Following that breakout,  price has risen to a high of $222.98. Price went into a correction after this high but managed to stay above the above during the correction process. Conversion and Base lines had a bearish crossover earlier and both lines have not had a bullish crossover as yet. Price is currently caught between the Conversion and Base lines. Price was supported by the Conversion line but was capped by the Base line. Lagging Span is below price of 26 days ago but is above the cloud. MACD is bullish and we could see a bullish crossover soon, hinting of a bullish trend ahead. Both of MACD lines are above the zero line as well. Going by the Ichimoku N price projection, with the rally from $164.33 to $222.98, and the base at $188.50, we have a price target of $247.15, which is close to the high of $247.40 achieved on the 17 Jan 2020.

$202.20              Buy
$247.20              Price Target
$181.20              Risk Management Stop
3 weeks Trade Duration

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