Bearish DailyPlay for Thursday June 1st, 2017 – Goldman Sachs (GS)
The bearish DailyPlay we chose for Thursday June 1st is Goldman Sachs (GS). GS is part of the Financial Sector (XLF). Over the last month, XLF has experienced a 1.82% move lower and its 1m and 6m trend has turned bearish today while breaking below its $23.40 support level.
Goldman Sachs’ 1m and 6m trends turned bearish on 5/30 and just bounced lower off its $225 resistance level on high volume. With a technical score of 4 (out of 10), GS is a strong bearish stock that looks to continue lower.
As a stop loss, if GS was to trade above $225 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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