Goldman Sachs (GS) – DailyPlay for Wednesday June 13th, 2018

The bearish DailyPlay we chose for Wednesday, June 13th is Goldman Sachs (GS). GS is part of the Financial Sector (XLF). Over the last month, XLF has experienced a 1.10% move lower and its 1m and 6m trend turned bullish on 6/5 but recently bounced lower off its $28.20 resistance level.

Goldman Sach’s 1m and 6m trends turned bearish on 5/15 and recently bounced lower off its $235 resistance level. With a technical score of 3 (out of 10), GS is a weak stock that will likely trend lower.

View this Trade Idea on GS

As a stop loss, if GS was to trade above $235 for multiple days, this would invalidate our analysis and suggest getting out of the trade.