Just as I have suspected, this time Goldman Sachs seems good to beat earnings! In fact yesterday I posted Goldman Sachs (GS) chart for us to see. You may check on my blog. Today because of good earnings upside surprise, it rose 6%. Earnings per share, including dividends, for the quarter were $1.84, more than what the Analysts were expecting at $1.24 a share. Now it stands at $103.55.
As I have mentioned, Dow Jones will follow today and 2moro earnings closely. 2moro is a bigger earnings day.
By the way, I have attached another chart on Goldman Sachs. I feel that this stock is back from the dead this quarter after 2 consecutive earnings miss.
It broke out of the triangle or wedge pattern. Check the P&F chart. It has a bullish alert. You may buy and hold the stock. $120 is a good target for stock. For options, you may want to sell a bull out spread below $100 or buy a straight call. Remember your money management though. It may come back and test its trendline support again at $100.
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