Goldman Sachs (GS) is in a holding pattern, forming a symmetrical triangle. The characteristic of this type of triangle is that a breakout of breakdown can happen on even 50/50 odds. The result, breakout or breakdown, will be the continuation of the direction of that move. High-risk traders can take a gamble and get in now an hope that they're right, but I prefer to wait for the definite move and trade the result which is a more low-risk trade. The green lines indicate the nearest support and resistance areas to guide you to where GS will eventually head to.
QUAL Is High Quality But Not Timely
11 minutes ago
2 comments:
You could always straddle/strangle the stock with options.
that's very true. I would just find another lower risk, high probable entry trade like the shorts I entered in a post below.
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