Shares of the Goldman Sachs Group ( GS) look weak on the charts ahead of their quarterly earnings report expected this Thursday morning. Let's see what traders are doing ahead of the report. 
In this daily bar chart of GS, below, we can see that prices "rolled over" from July to December and then launched a downtrend in January that is still ongoing with a new low for the move down in April. Prices are trading below the declining 50-day moving average line and below the declining 200-day line. The trading volume has been heavier since the middle of January when prices gapped to the downside. Traders are voting with their feet.
The On-Balance-Volume (OBV) line has been in a decline the past 12 months telling us that traders have been more aggressive sellers for many months and before the downtrend began. The Moving Average Convergence Divergence (MACD) oscillator has been bearish since November.
In this weekly Japanese candlestick chart of GS, below, we see a bearish picture even with the latest candle showing a lower shadow. Prices are below the declining 40-week moving average line.
The weekly OBV line is bearish and pointed lower. The MACD oscillator is also bearish and pointed down.
In this daily Point and Figure chart of GS, below, we can see a potential downside price target in the $277 area.
In this weekly Point and Figure chart of GS, below, we can see a possible $245 price target.
Bottom line strategy: In our February 24 review of GS we recommended avoiding the long side of the stock. While I have no special knowledge of what GS is going to report for their latest quarterly earnings, I would continue to avoid purchasing shares of GS.
