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TimerFrank
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Frank started market timing in 1982 when the Federal Reserve cut interest rates and sparked the 1980’s bull rally. Realizing that this rally could have been forecasted, he began to search for indicators which had similar forecasting ability. Within a year, his first newsletter was launched,... More
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  • Higher Highs For Goldman Sachs (NYSE: GS)  0 comments
    Oct 17, 2012 2:37 PM | about stocks: GS

    October 18, 2012 (By Frank Kollar)

    Goldman Sachs Group (NYSE: GS) has exited its September correction, rallied to new highs, and is nearing a breakout.

    We have drawn a steep rising trend support line on the below chart and the correction lows reached in September reversed right off that line.

    We expect Goldman to try to break above $128 a share in coming days. We also expect the test to be successful.


    Chart Courtesy of StockCharts.com

    Goldman should perform well as the stock market sorts out the new QE3 and factors that into the coming months.

    The Fibtimer.com (http://www.fibtimer.com) Stock Timing Strategy holds a position in Goldman Sachs.

    Disclosure: I am long GS.

    Themes: Goldman Sachs Group, GS, Goldman Sachs, Goldman Stocks: GS
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