Bearish Divergence Nov 2007 on monthly chart suggests that GS' uptrend since 2003 might just reverse or see a major correction. GS is now sitting between fib level of 61.8 and 50 - if it retraces to 38.2 or even 23.6, we could be looking at a reversal. For now,I'm cluelss as to where it's headed.
Bearish Hidden Divergence on 28 Apr 08 on weekly chart suggests a continuation of the downtrend that began in Nov 07
Bearish Hidden Divergence on 19 Jun 08 on daily chart suggests a continuation of the downtrend that began on 5 May 08.
News on GS has been negative mostly. And there are questions regarding the integrity of their financial reporting etc. Certain comments out there alluded that the cutting of jobs in its investment banking arm is necessitated by the lack of performance in their private equity and hedge funds. Hear say, will keep that at the back of my mind regardless.
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