Chart Of The Day: The Goldman Sachs Group

Chart Of The Day: The Goldman Sachs Group – Making Beautiful Hits

May 16, 2024Jeremy ParkinsonFinance0

100% technical buy signals

18 new highs and up 16.27% in the last month

52.31+ Weighted Alpha

The Chart of the Day belongs to the financial service company The Goldman Sachs Group (GS). I found the stock by using Barchart’s powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum, and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 4 /23 the stock gained 9.93%. GS Price vs Daily Moving AveragesBarchart’s Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Barchart Technical Indicators:

100% technical buy signals

52.34+ Weighted Alpha

44.72% gain in the last year

Trend Seeker buy signal

Above its 20, 50 and 100 day moving averages

18 new highs and up 16.27% in the last month

Relative Strength Index 79.48%

Technical support level at $462.63

Recently traded at $466.09 with 50 day moving average of $414.03

Fundamental Factors:

Market Cap $147 billion

P/E 17.71

Dividend yield 2.34%

Revenue is expected to grow 11.80% this year and another 3.20% next year

Earnings are estimated to increase 52.10% this year, an additional 8.90% next year, and continue to compound at an annual rate of 16.82% for the next 5 years

Analysts and Investor Sentiment — I don’t buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it’s hard to make money swimming against the tide:

Wall Street analysts issued 16 strong buy, 1 buy and 5 hold recommendations

Value Line has the stock rated its highest rating of 1 with a mid-point price target of $540 about a 20% return

CFRAs MarketScope has a 4 star buy rating and a price target of $488

MorningStar gives the stock an average 3 star rating with a Fair Value of $417

Only 200,000 investors monitor the stock on Seeking Alpha

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