Goldman Sachs stock: buy or sell

Goldman Sachs stock brief

• Goldman Sachs closed on Wednesday at $335.27 after inching a 1.02%.
• Barclays, Berenberg Bank, Credit Suisse Group and 4 others published hold ratings for Goldman Sachs on Wednesday, with an average forecast of $399.57
• From the chart point view, price is drawing a scaled uptrend since October 2020 with higher tops and higher bottoms. Up to date, price made a 82.42% profit since the beginning of this rally
• On April 14, Goldman Sachs released its Q1 financial report
• The Goldman Sachs Group, Inc., a financial institution, provides range of financial services for corporations, financial institutions, governments, and individuals worldwide.

Should I sell Goldman Sachs stock?

Do you know when is it time to sell Goldman Sachs?. Like when we have to buy shares, choosing when is appropiate to sell is not a random decision, and we must follow our own trading style. Our trading system selects very simple setups to guide us on when is the best time to sell our shares. Be aware that these setups should not be used for selling short Goldman Sachs stock

A golden rule is that you must never hold an investment that shows a losses greater than those expected upon the buy. The moment to sell shares should always be dictated by the stop-loss (automatic or manual)

Goldman Sachs stock analysis

Since in October 2020, Goldman Sachs has been drawing an uptrend that so far marked a gorgeous 82.42%. During this uptrend, the price offered some entry points on the breakouts. Latest pullback was in late March, when price bounced at $317.72. Like in all uptrends, price needs to take breath and currently price is moving in a range between $356.85 and $317.72

SMAs overview

Supports and resistances

The current resistances are:

The current support levels are:

Bollinger bands

Since the price surpassed the upper band last Monday, the price corrected downwards by 2.66%. The price is trading near to the upper Bollinger band, poiting some level of overbought in recent sessions. This is not a sell signal, as price can trade in these levels for many days and weeks

Relative strength index

The RSI dropped below the overbought level of 70 in mid-March after just crossing to the overbough zone for 1 day (weak signal). The RSI reading on Wednesday was 53.35. Since RSI lost the overbought zone, Goldman Sachs stock collapsed a 3.12%

Goldman Sachs stock price history

Goldman Sachs went public priced at an adjusted price¹ of $58.99 on May 1999. Since then, GS stock surged by 468.35%, with an average of 22.30% per year. An investment of thousand dollars on May 1999 would have a value of $5,683.51 today.

¹: Adjusted price after possible price splits or reverse-splits

Earnings and financials

The Goldman Sachs Group, Inc. ($GS) released earnings of $18.60 per share on April 14, significantly uplifting the Market consensus estimate of $10.22 per share. This quarterly report represents an earnings surprise of 82.00%. Forecasted revenue for Q1 was $12.6 billion but Goldman Sachs highly beat by 40.40%, reporting $17.7 billion.

Goldman Sachs ($GS) is releasing quarterly financial report next July. Wall Street predicts of $9.37, compared to Q1 that made $18.60.

Goldman Sachs performance