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Goldman Sachs Hammers The Dow

By InTheMoneyStocks.com (Nicholas Santiago)Stock MarketsApr 18, 2017 12:01PM ET
www.investing.com/analysis/goldman-sachs-hammers-the-dow-200183469
Goldman Sachs Hammers The Dow
By InTheMoneyStocks.com (Nicholas Santiago)   |  Apr 18, 2017 12:01PM ET
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Leading financial stock Goldman Sachs Group (NYSE:GS) traded sharply lower Tuesday after reporting earnings. The financial giant is part of the thirty stocks in the Dow Jones Industrial Average. It should be noted that the Dow is a price-cap weighted index, giving Goldman Sachs a very high weighting. A fair case can be made that Tuesday's decline in Goldman Sachs' stock price was the sole cause for a 50 to 60 point decline in the Dow.

Short-term day traders should watch for important chart support on GS around the $210.47 level. Swing traders should watch for major chart support around the $196.67 level. This trade level matches up with the 50-week moving average, which is used by many institutional investors and traders.

Goldman Sachs Group
Goldman Sachs Group

Goldman Sachs Hammers The Dow
 

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Goldman Sachs Hammers The Dow

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