Goldman Sachs has been around for over 100 years, and in that time, it has reached the pinnacle in its industry. Goldman is the premier investment banker, lender, brokerage and market maker in the financial sector with some of the biggest institutional clients in the world.
During the financial crisis, Goldman was on the ropes – as were most financial institutions. The company has definitely seen its share of ups and downs. I profiled them back in 2012 with Jim Cramer on Mad Money, and the stock took off from there. Following the Great Recession, the company dug in its heels and came back strong, albeit with more restrictions and regulations limiting profit opportunities.
The chart of Goldman Sachs shows a nice uptrend channel with price at the midpoint of the range. We could see the name move up toward that level as the stock is not too overbought here. Gaps exist above its current level, and we have the 200 ma ahead at 179 – a good 13% higher from the current level. However, I like the relative strength here, so I’ll be keeping my eye on this chart.
Goldman Sachs (NYSE: GS) Video Chart Analysis
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About Goldman Sachs
The Goldman Sachs Group, Inc. operates as an investment banking, securities, and investment management company worldwide. It operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, such as strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, including public offerings and private placements of various securities and other financial instruments, as well as derivative transactions entered into with public and private sector clients.
