Goldman Stocks Down On Lawsuit

Goldman Sachs fell 1.05% to close at $233.78 on Thursday. Although it started the week in positive mode, it has now entered into the negative territory since Wednesday. Goldman constitutes 6.26% of Dow Jones Industrial Average. DJIA was off 0.29% on Thursday.

In recent news, Goldman Sachs was sued on Thursday by former managing director Christopher Rollins. He said that the Wall Street bank retaliated against him and fired him after he complained about its dealings with an unidentified, notorious European businessman. He also accused Goldman of defamation. In other news, Goldman is in talks with Sabine Pass’s owner, Cheniere Energy Inc. to buy a cargo of liquefied natural gas according to people familiar with the matter. If the deal struck, it would give Goldman a sought-after toehold in the LNG market, which is growing quickly.

On the technical front, the RSI is currently at 51.12% and suggests that the market can continue trading sideways. The %K has crossed the %D from above to the downside at 65.70% and suggests that the market may move downwards. The current market price is below the middle line of the Bollinger bands and is currently heading downwards. The current market price is below MA5. Overall market sentiment seems to be mixed to bearish.

 

TRADE SUGGESTION- SELL AT 235 TAKE PROFIT AT 233  STOP LOSS AT 236

 

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