Financial sector got crushed since March FOMC due to the rate hike expectation not so great or sell the news impact. The financial sector leader : goldman sachs also got crushed recently. Following are some updates:
- technically mostly negative: RSI, MACD, PMO
- STO kind of oversold
- price runs within a rising wedge
- bollingar band is ready to expand soon
In summary, the stock price has 2 possible paths to evolve:
- touch lower trend line of rising wedge around $240 and bounce up
- break down the lower trend line of rising wedge, next support is around $225
The recommendation is buy half at around 240 and buy another half at around 225, the upside target is around $290~$300 still.
BTW, Morgan Stanley has same technical setup as Goldman Sachs.
BTW, Morgan Stanley has same technical setup as Goldman Sachs.
My personal opinion is not for investment purpose, but for education and illustration.
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