GS Faces Resistance as EMAs Turn Bearish
Goldman Sachs Group Inc (GS) closed down 1.00% at $942.00 on September 21.
The technical setup looks bearish:
Moving Averages
Bearish EMA structure persists with price below the 9-day ($978.61) and 21-day ($1003.33).
Momentum
RSI at 33.4 is in neutral territory but trending lower. MACD reads -21.43 against its -12.25 signal line (bearish).
Volatility
Price has pierced the lower Bollinger Band ($943.51), which often precedes a bounce.
Despite the bearish EMA structure, oversold RSI suggests patient buyers may find opportunity near $943.51.
Traders are watching $943.51 on the downside and $1082.99 on the upside.
