GOLDMAN SACHS COULD WITHHOLD PAY FOR TOP EXECUTIVES OVER MALAYSIA SCANDAL, STOCK TECHNICALS BREAKDOWN
Goldman Sachs is currently trading at 195.55-lower by 0.52% as compared to the previous closing price.
The firm said it could withhold some pay from top executives as a result of an ongoing criminal probe of a Malaysian investment fund. Goldman Sachs said in a regulatory filing on Friday that its board of directors had approved a forfeiture provision which gave it the flexibility to reduce the size of the award prior to payment of executive pay granted for 2018.
It could cost former CEO Lloyd Blankfein and other top executives millions of dollars, depending on the outcome of an investigation into a Malaysian investment fund 1MDB. The forfeitures could apply to any of the company’s top five executive officers as of the end of 2018.
The filing also disclosed that the firm has decided to put off calculating the value of longer-term pay granted to the former CEO and other former executives in 2011 until more information is available.
On the technical front, the current price is below the MA5. The current price is above the middle line of the Bollinger Bands but is heading downwards. The RSI is currently at 57.32% and suggests that the market can move in the downward direction.
TRADE SUGGESTION- STOP SELL AT 195.40 TAKE PROFIT AT 193.90 STOP LOSS AT 196.20