GS Looks Interesting

Weekly chart

- found support at 50 week MA.

- MACD at center line support, starting to turn flat/up

- RSI already broke down trend

- Stock needs to break intermediate downtrend

Daily Chart

- Solid volume and wide range bar

- RSI back above 50.

- MACD just crossed over

- 20 EMA pointing up, 50 SMA turned flat

- 20 needs to cross over 50 still, and downtrend not broken yet.

- Last time GS had 1) MACD cross, 2) 20 EMA near crossing 50 SMA, and 3) RSI going positive it turned out to be a major fake out.

- Wedge breakout targets $172.50, which would be a break of downtrend (not a massive break, but poking its head through).

Not convinced by market rally, and March often has intermediate turning points. Bearish 6 months for stocks coming up too. Definitely won't chase this. Maybe buy on pullback with stop under last week's low. Even better if it breaks down trend then pulls back...could see new highs from this consolidation. Stock has definitely been a laggard in the market, but Goldman also has a lot of attention and the company is in a great position - they're practically printing money.

Watch it carefully.