GOLDMAN SACHS Q4 PROFIT TOPS EXPECTATIONS, STOCK ABOVE ALL MAs

Goldman Sachs is currently trading at 191.30-higher by 6.30% as compared to the previous closing price. In the Premarket trading session, the stock was trading higher by 4%. The stock has continued rising after the opening bell.

The bank posted a fourth-quarter profit that topped market expectations on strength in its investment banking and investing and lending divisions. Goldman Sachs generated EPS of $6.04 for the fourth quarter of 2018. The EPS was above the consensus estimates of $4.45.  Revenue of $8.08 billion also beat the market expectation of $7.55 billion.

The company posted $2.04 billion in revenue in its investment banking division, better than the median forecast of $1.88 billion, fueled by a 56% rise in advisory revenue to $1.20 billion.

On the technical front, the current price is above the MA5. The current price is above the upper band of the Bollinger Bands and is heading upwards. The RSI is currently at 65.30% and suggests that the market can move in the upward direction.

 

TRADE SUGGESTION- LIMIT BUY AT 190.50 TAKE PROFIT AT 192.30 STOP LOSS AT 189.50

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