On May 12, 2022 Goldman Sachs hit an intraday low of $293.90, which we were thinking that this is a tradable bottom. We were expecting about a 10% rise to about $323. On Tuesday May 31, 2022 Goldman Sachs traded up to $329.72 and has started to decline. What is noteworthy is that our algorithms were predicting $330 to be resistance based on the resistance levels of the downward trend the stock has been in since November of 2021.

Right now we are expecting Goldman Sachs to trade down to $275-$280 and we expect a similar bounce in the stock.

On Monday 6-13-22, while the overall stock market got crushed, what is noteworthy about the intraday low is that it hit $278.32, which is in our projected range. Goldman traded down to $278.32 at the opening of trading Monday, and had seen a reversal and traded all the way up to 286.42 which further signifies the $275 - $280 area of support.

We would add to Goldman Sachs here, and look to trim around $310 price range.