Goldman Sachs has been called many things over the past 5 years. There has been a a lot of jealousy involved, but a lot of creativity as well. One of my favorites has been the Vampire Squid. But I have a new moniker for them. Gold in Sacks. And this Gold comes from the Dented Headed Cash Machine. A look at the chart of the stock price below may give you some clarity.
The price action since early 2010 has created an Inverse Head and Shoulders pattern. The Double Bottom at 90 created the Dented Head. The neckline, where the pattern triggers a buy, is the orange zone and a move over that carries a price objective to 270. That is a long way to go from a buy at 180. But there is also a smaller inverse head and shoulders pattern in the right shoulder of the bigger pattern. This one triggered on the break of 175 and carries a price objective to at least 197.50. That can keep you occupied in the short run as Goldman Sachs stock turns your money into a bunch of Gold in Sacks.
Recommended for You
U.S. oil prices are heading into a sweet spot that could spur the fracking industry to crank up some of the drilling it shut down when crude prices collapsed.CNBC
MEXICO CITY (AP) — SurveyMonkey CEO David Goldberg died of severe head trauma in an exercise accident in the Mexican resort town of Punta Mita, a Mexican state official said Monday.Associated Press
Warren Buffett, Berkshire Hathaway CEO, explains why he bought shares of IBM, and weighs in on how he chooses companies.CNBC Videos
Q: “I want to pay off a sizeable ($15,000) debt that my adult son has. Are there any tax implications for either of us? —Jack A: Your generosity will have no impact on your son’s taxes, but in theory it ...Money
Think money is too tight to save for retirement? Think again.Yahoo Finance
Recently, Google released 70 new Google Now cards. Here are 10 that professionals can get the most out of.TechRepublic
Shares of Alibaba fell to an all-time low on...Business Insider
Retail appetite for risk may be drying up, if last week’s unsettling action in the sexy social-media corner of the market is any indication.Plus, the “smart money” is signaling trouble ahead in housing....MarketWatch
- MONEY MORNINGSponsored
Russia's underground resource and currency wars are starting to have catastrophic effects on the global economy. Here's what this means for Americans.
So different, in fact, that they were willing to use a discounted cash flow analysis, which tries to value companies over the very long term, to calculate price targets for stocks like United Continental (UAL), Delta Air Lines (DAL), American Airlines (AAL), and JetBlue Airways (JBLU), which…Barrons.com
After much hype and a match that disappointed many, we have a new champion. But as per usual, the Internet is the real victor.CNET
Bill Gross' latest monthly investment outlook...Business Insider
Fox News anchor Smith tells viewers Monday that story about gun incident was inaccurate.USA TODAY
Bill Clinton, by many measures, is one of the shrewdest and most knowledgeable politicians of modern times. Now he has granted an interview to NBC’s Cynthia McFadden on the raging political debate over the fundraising practices of the Clinton Foundation.The Fiscal Times
While Dow Chemical will cut 3% of its workforce, nothing in the corporation's press release mentioned that Dow's president, chairman and chief executive officer will cut his own pay by a dime.24/7 Wall St.
May 4 -- McDonald’s CEO Steve Easterbrook is restructuring the restaurant chain into four segments, saying the key to snapping its sales slump is improving operations at the store and company levels. Bloomberg’s Susan Berfield reports on “In The Loop.”Bloomberg Video
Tuesday's top analyst upgrades, downgrades and initiations include Alcatel-Lucent, AOL, Cisco Systems, EMC, Netflix and Tesla Motors.24/7 Wall St.
Just a few months after their two countries declared a “Year of Friendship” to celebrate greater political and economic ties, the relationship between Vladimir Putin and Kim Jong-un is in question. The trip would have been significant for Kim not just because it was to be his first venture abroad…The Fiscal Times
Hint: It's not starting at 62.USA TODAY
Keep these big utility stocks on your breakout trading radar.TheStreet.com