Tuesday, July 9, 2013

GS

I know several of you are trading GS, I'll just say real quick that GS is one of the few stocks that has a real and powerful base that can support a real move.

I personally have been watching the base develop for sometime and this is one that I wanted to sync up with the last market move to the upside, get in on the base early just as the market is turning up.

I think it's tough to trade in here as market headwinds aren't the best thing for moving up, I'd love to see it pullback and wait for the market to be at the start of a fresh move up, I'd consider going larger than full size if that were the case.

A couple of charts..
 This is the 60 min base, it's impressive.

This is the 5 min chart, I expect we'll have market headwinds and the GS base looks mature, I really don't know if it will come down and make a larger base or do its own thing, I'd hope that it will come down.

I'd say from some of the 3C charts that the true base is up at the higher trendline, that gives a very large price implied target.


No comments: