Chart.ly Chart of the Day: Goldman Sachs GS

  • Posted by
  • on March 4th, 2010
ldrogen

Today on the Chart.ly Chart of the Day we take a look at Goldman Sachs $GS with @HCPG.  The entire market is waiting on Goldman to either make a move above that monster resistance level at 160 or break down out of what looks to be a classic bear flag.  Notice the high volume sell off followed by the steadily decreasing volume as the pattern moves out into the apex of the triangle below the 50 day moving average.  Can the market continue to climb towards new highs if $GS can’t get technically healthy?

ldrogen

Leigh Drogen is the founder and chief investment officer of Surfview Capital, LLC, a New York based asset management firm. Leigh specializes in momentum and long/short strategies across several different asset classes. Using technical analysis supported by macro economic and fundamental factors, Leigh takes advantage of high probability movements on the swing trading time frame. Prior to founding Surfview Capital, Leigh served as an analyst and trader for Geller Capital Management, a White Plains, NY based asset management firm. His educational background includes focus in economics and international relations, specifically war theory. Along with publishing his own blog, Leigh heads up the development of the Chart.ly platform at StockTwits. Outside of the markets, Leigh continues to play competitive ice hockey and is a dedicated New York Rangers fan. You can follow him on his blog LeighDrogen.com.


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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