GOLDMAN SACHS RISES ON REPORTS OF OPENING UP A SECRETIVE INVESTING GROUP
Goldman Sachs stocks are currently trading at 198.62-higher by 1% as compared to the previous closing price.
The Wall Street Journal reported on Tuesday that the company is planning to open up an internal go-anywhere investing group to outsiders. The newspaper further reported that firm’s special situations group plans to raise outside money.
Goldman is considering combining the group with the firm’s merchant bank, which makes private equity investments, the Journal said. SSG invests the firm’s money in a diverse set of asset classes, from stakes in mid-sized companies to credit and real estate around the world.
It’s part of a broader plan by CEO David Solomon to boost revenue across the company to make up for a multi-year decline in trading results. The investment bank is making a push to find new clients in investment banking and gain share in retail banking activities.
On the technical front, the RSI is currently at 57.22% and suggests that the market can move in the upward direction. The current price is above the MA5. The current price is above the middle line of the Bollinger Bands and is heading upwards.
TRADE SUGGESTION- STOP BUY AT 198.80 TAKE PROFIT AT 199.80 STOP LOSS AT 198.30