After some wild volatility since the last Fed meeting, shares of Goldman Sachs (GS) are back around the $200 level, and once again struggling to hold up.
The stock's range is pretty well defined now between $185 and $205 (yellow bars, in the chart below).
There are mixed signals on the indicators. The Moving Average Convergence Divergence (MACD) is still on a buy signal but momentum is pointing down.
The cloud provides some support, but notice to the right it has now twisted bearish. That's something to watch if price falls into the cloud.
What is encouraging is that volume over the past few days of weak price action has been poor, a sign that big institutional distribution is not happening. With earnings coming out soon that could be the catalyst to get the price up through resistance -- finally.
The 200-day moving average is a big impediment here around the $207 area. However, we have seen big gaps higher (and lower) after Goldman earnings.
A bit of energy here to the upside and Goldman starts making a run to the highs from last fall.