The market has pushed higher and higher over the last couple weeks even in the face of all the bleak predictions for 2023. This rally has been welcomed news for many investors and traders, as well as stocks such as the subject of Today’s Big Stock.
Goldman Sachs (GS) is a financial services company that is a juggernaut among the industry, so nearly every trader is familiar with the name. Following along with the rally in the market GS also found some solid footing and has been on a significant run over the past several weeks.
As the price continues to push up, it nears a very important price. This price has been set months in advance, and as you can see in the video breakdown below, this is a level of high confluence.
This level has served as both support and resistance in the past, which is why traders should be paying such close attention to this price. If it is able to clear this zone then the next level of resistance is far enough away, there could still be value in the bullish trade. However, if the market runs out of gas, the same can be expected for GS and its rally.
Watch the full breakdown below for all the insight you need to make your next high probability trade, or sit on cash. Cash is also a position, and there is no shame in sitting out a bit and waiting for the next A+ setup.
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Don’t wait, take advantage of this opportunity to make 2023 one of your best years yet! I look forward to trading with you…