Goldman Sachs (GS) Outpaces Stock Market Gains:

In the latest trading session, Goldman Sachs (GS) closed at $386.25, marking a +0.62% move from the previous day. This move outpaced the S&P 500’s daily gain of 0.59%. Meanwhile, the Dow gained 0.28%, and the Nasdaq, a tech-heavy index, added 0.02%.

Coming into today, shares of the investment bank had gained 15.48% in the past month. In that same time, the Finance sector gained 9.23%, while the S&P 500 gained 6.89%.

Investors will be hoping for strength from Goldman Sachs as it approaches its next earnings release. The company is expected to report EPS of $6.62, down 38.76% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $11 billion, down 12.97% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $33.35 per share and revenue of $47.77 billion, which would represent changes of -43.9% and -19.49%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for Goldman Sachs. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.

GOLDMAN SACHS TECHNICAL ANALYSIS

Daily Chart:

In daily GOLDMAN SACHS is currently trading in the up channel.

 RSI is in the overbought zone which indicates bearishness

It is currently moving above all MA.

Its immediate resistance is 389.47 and its support level is at 373.39

HOW TO TRADE IN THIS WEEK

Currently, the market is trading in up channel, market is continuously moving up, the market is indicating upside movement, but there might be a retracement of it because the stock already has moved upside so far, remain bullish on it

TRADE SUGGESTION: BUY AT 389.17, TARGET AT 395.69, SL AT 382.63