The Goldman Sachs Group, Inc. (GS) Formed Wedge Up Chart Pattern; Buyers Could Thrive

January 23, 2018 - By Hazel Jackson

Investors sentiment decreased to 0.75 in 2017 Q3. Its down 0.33, from 1.08 in 2017Q2. It dropped, as 63 investors sold The Goldman Sachs Group, Inc. shares while 427 reduced holdings. 82 funds opened positions while 285 raised stakes. 271.74 million shares or 2.47% less from 278.62 million shares in 2017Q2 were reported.
Horizon Kinetics Limited Liability has invested 0.02% of its portfolio in The Goldman Sachs Group, Inc. (NYSE:GS). Mutual Of America Cap Mgmt Lc has 44,033 shares. Security Trust owns 0.29% invested in The Goldman Sachs Group, Inc. (NYSE:GS) for 3,717 shares. Sg Americas Lc owns 47,488 shares. Exchange Capital has invested 0.96% in The Goldman Sachs Group, Inc. (NYSE:GS). M&R Cap Management has invested 0.01% in The Goldman Sachs Group, Inc. (NYSE:GS). Matrix Asset Ny holds 976 shares or 0.04% of its portfolio. Beck Cap Mgmt Ltd Liability Co reported 63,724 shares stake. Oakwood Cap Mgmt Limited Co Ca holds 1.15% or 20,711 shares. The Ohio-based Carnegie Capital Asset Management Limited Liability Com has invested 0.6% in The Goldman Sachs Group, Inc. (NYSE:GS). Meiji Yasuda Life Insurance Communications has 0.05% invested in The Goldman Sachs Group, Inc. (NYSE:GS). Kcm Invest Advsr Limited Liability reported 0.05% of its portfolio in The Goldman Sachs Group, Inc. (NYSE:GS). Sfmg Limited Liability has invested 0.06% in The Goldman Sachs Group, Inc. (NYSE:GS). 1,417 were reported by Bradley Foster And Sargent Inc Ct. Pictet And Cie (Europe) Sa holds 0.41% in The Goldman Sachs Group, Inc. (NYSE:GS) or 11,949 shares.

Since August 1, 2017, it had 0 buys, and 6 sales for $15.08 million activity. GNODDE RICHARD J also sold $1.19 million worth of The Goldman Sachs Group, Inc. (NYSE:GS) on Wednesday, October 18. SOLOMON DAVID M sold 3,260 shares worth $754,997. $4.16M worth of The Goldman Sachs Group, Inc. (NYSE:GS) shares were sold by ROGERS JOHN F.W.. VINIAR DAVID A also sold $1.05 million worth of The Goldman Sachs Group, Inc. (NYSE:GS) shares.

The stock of The Goldman Sachs Group, Inc. (GS) formed an up wedge with $268.68 target or 4.00 % above today’s $258.35 share price. The 5 months wedge indicates low risk for the $97.45 billion company. If the $268.68 price target is reached, the company will be worth $3.90B more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock decreased 1.21% or $3.17 during the last trading session, reaching $258.35. About 1.04 million shares traded. The Goldman Sachs Group, Inc. (NYSE:GS) has risen 39.23% since January 23, 2017 and is uptrending. It has outperformed by 22.53% the S&P500.

The Goldman Sachs Group, Inc. (NYSE:GS) Ratings Coverage

Among 30 analysts covering Goldman Sachs Group Inc. (NYSE:GS), 13 have Buy rating, 1 Sell and 16 Hold. Therefore 43% are positive. Goldman Sachs Group Inc. has $289.0 highest and $140 lowest target. $240.11’s average target is -7.06% below currents $258.35 stock price. Goldman Sachs Group Inc. had 94 analyst reports since July 21, 2015 according to SRatingsIntel. The firm has “Neutral” rating given on Monday, October 9 by Citigroup. As per Monday, October 17, the company rating was upgraded by Rafferty. The rating was maintained by Wells Fargo on Thursday, August 10 with “Outperform”. Macquarie Research upgraded the shares of GS in report on Friday, November 18 to “Outperform” rating. The firm earned “Hold” rating on Friday, October 6 by RBC Capital Markets. Keefe Bruyette & Woods maintained it with “Hold” rating and $240.0 target in Tuesday, October 17 report. The company was downgraded on Tuesday, November 8 by Citigroup. The firm earned “Outperform” rating on Friday, April 7 by Wood. Rafferty downgraded it to “Hold” rating and $221 target in Wednesday, April 19 report. The company was downgraded on Monday, July 24 by UBS.

More notable recent The Goldman Sachs Group, Inc. (NYSE:GS) news were published by: Investorplace.com which released: “You Just Can’t Bet Against Goldman Sachs Group Inc” on January 18, 2018, also Bloomberg.com with their article: “The Fix for Goldman Sachs Starts With Bloated Paychecks” published on January 23, 2018, Bloomberg.com published: “Goldman Sachs Plans Geneva Reopening in Swiss Push” on January 23, 2018. More interesting news about The Goldman Sachs Group, Inc. (NYSE:GS) were released by: Bloomberg.com and their article: “Goldman Sachs Finishes Tough Year With New Low in Debt Trading” published on January 17, 2018 as well as Bloomberg.com‘s news article titled: “Goldman Says Risk Appetite Has Reached ‘Extreme’ Levels” with publication date: January 23, 2018.

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