- Published: 13 July 2016
- Written by verifiedInvesting
Goldman Sachs Group Inc (NYSE:GS) has ripped higher for five straight days. The amateur investors are starting to buy in but the smart money is selling. Why? Because the chart is near term extended and approaching a major technical chart level known as gap fill. On the chart below you will see this clearly shown. The potential short trade will only be initiated IF Goldman Sachs hits gap fill at $159.40 in the next two days (by Thursday, July 14th 2016). This is known as a swing trade, meaning you look for a quick sharp pull back over the course of one week. Then take profits. The pull back could potentially take you to a target of $149.75. That would be an approximate $10 profit on Goldman Sachs in a week if this trade plays out correctly.