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Goldman Sachs is currently trading at 201.05-lower by 2.32% as compared to the previous closing price. In the Premarket trading session, the stock was trading lower by 1.98%. The stock has continued falling after the opening bell.
Stocks of bank dropped today after the company reported a quarterly profit that was below the market expectation. Goldman Sachs generated an EPS of $4.79 for the third quarter of 2019. The EPS was below the market expectation of $4.86. Revenue of $8.32 billion was also below the consensus estimates of $8.34 billion.
The bank’s earnings missed market expectations as global economic worries dampened appetite for deals and share sales. Among its four main businesses, the firm’s investing and lending division missed Wall Street’s estimates by the largest degree. Goldman set aside $291 million for credit losses in the quarter, 67% higher than a year earlier.
On the technical front, the current price is below the MA5. The current price is below the middle line of the Bollinger Bands and is heading downwards. The RSI is currently at 44.02% and suggests that the market can move in the downward direction.
TRADE SUGGESTION- LIMIT SELL AT 201.40 TAKE PROFIT AT 199.40 STOP LOSS AT 202.40