Goldman Sachs – Tick Insights

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

Outlook
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.

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

Goldman Sachs Group Inc Stock Code GS.NYS

Outlook

Price broke below the cloud after trying unsuccessfully to move above it for a few days. A gap resistance at $201 also capped the advance together with Conversion line. Price is now below the cloud as well as the Base and Conversion lines. It is likely to move lower to the first gap support at $185.65. MACD gave a bearish divergence warning when price was on the second rally, which is a hint of a price high. MACD has turned bearish, indicating a likely price decline.

Strategy

$197.80 Sell
$185.70 Price Target
$201.40 Risk Management Stop
4 weeks Trade Duration

Devon Energy Corp Stock Code DVN.NYS

Outlook

Price broke a price support at $29.86 yesterday and closed the day at its low. This is bearish sign even if price has not moved below the cloud. Price is below both the Conversion and Base lines and is capped by the faster Conversion line. The trend is bearish and price is likely to move lower to either $26.65 or the stronger support at $24.19. MACD has turned bearish and is moving lower.

Strategy

$29.75 Sell
$24.20 Price Target
$32.20 Risk Management Stop
4 weeks Trade Duration