The Vampire Squid will meet the bigger Vampire Squid (the US government) tomorrow in the Senate subcommittee hearing over its Abacus CDO transaction, and the shares of the first Squid, aka Goldman Sachs (GS) have been suffering ever since April 16, when the SEC charges were leaked to New York Times.
It was pushing to retake the recent high on April 16, then the leak hit. The stock ended the day 13% lower. Since then, it continues to fall, despite daily attempts to reverse.
So, technically, where is the stock at?
This is the 3-year weekly chart of GS. To my surprise, it stopped today at where one may expect it to stop: trendline from March 2009 low. It is still just outside the price band where there were a lot of buying (and selling) activities. Technical indicators (RSI, MACD, Slow stochs) are down, but for now they haven't broken down the support.
The February 2010 low and June-July 2009 low are yet to be broken, and that level ($150) should offer some support. Below that, 61.8% Fibonacci retracement level ($137) from March 09 low to October 09 high.
If that breaks, maybe Blankfein should consider taking Goldman private.
Closing Time for 2015
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A fox doesn't seem to care if the air dose rate is in several millisieverts
per hour inside the Reactor 2 building around containment vessel.
From TEPCO's ...
8 years ago
hello... hapi blogging... have a nice day! just visiting here....
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