As the #3 most heavily weighted stock for the
DJI
,
GS
was one of the drivers behind the run down this week.
In February, a buyback program of 30 billion was approved. Buybacks probably commenced in March and have been boosting the price up within the trading range until recently. It may be that the buyback money has been depleted.
Goldman Sachs reports Oct 17. Revenues declined last quarter. Earnings are up and down. So probably not a great earnings report for Q3. However, the stock has support at the black line, so it doesn't have huge downside potential.
DJI
,
GS
was one of the drivers behind the run down this week. In February, a buyback program of 30 billion was approved. Buybacks probably commenced in March and have been boosting the price up within the trading range until recently. It may be that the buyback money has been depleted.
Goldman Sachs reports Oct 17. Revenues declined last quarter. Earnings are up and down. So probably not a great earnings report for Q3. However, the stock has support at the black line, so it doesn't have huge downside potential.
Martha Stokes, CMT
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Learn how to use the technical patterns of each market participant for better trade planning.
