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published in Blogs
Apr 23, 2019

Abandon-Baby Top on Goldman Sachs could be a bad sign

Investment banking giant Goldman Sachs (NYSE: GS) reported first-quarter earnings results on Monday and the results were a disappointment to investors. The company posted earnings of $5.71 per share on revenue of $8.81 billion. Analysts were expecting the company to earn $4.74 per share on revenue of $8.97 billion.

The stock fell 3.82% on the day as investors processed the information. What was really interesting is what the gap lower did to Goldman’s chart. The stock gapped higher on Friday after JPMorgan beat on earnings and revenues as investors expected similar results for Goldman. Instead, the stock gapped lower on Monday and that left Friday’s candle alone—it didn’t touch Thursday’s candle or Monday’s candle.

This pattern is known as an abandon-baby top and it is viewed as a sign of more bearish action going forward.

The overall fundamentals for Goldman are below average in several aspects. The earnings fell by 18% in the first quarter compared to last year’s results and sales were down 2%. Both of those figures are below average.

The company’s return on equity is at 11.6% and that is average to slightly below average. One area where Goldman is above average is its profit margin of 23.8%.

Goldman is also below average on its price performance over the past year. The Relative Price Strength Price Index from Investor’s Business Daily is a 28. This means that 72% of stocks in IBD’s database have outperformed Goldman in the past year.

Related Ticker: GS

Momentum Indicator for GS turns positive, indicating new upward trend

GS saw its Momentum Indicator move above the 0 level on February 28, 2024. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 76 similar instances where the indicator turned positive. In of the 76 cases, the stock moved higher in the following days. The odds of a move higher are at .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The Moving Average Convergence Divergence (MACD) for GS just turned positive on February 23, 2024. Looking at past instances where GS's MACD turned positive, the stock continued to rise in of 41 cases over the following month. The odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where GS advanced for three days, in of 331 cases, the price rose further within the following month. The odds of a continued upward trend are .

The Aroon Indicator entered an Uptrend today. In of 263 cases where GS Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Bearish Trend Analysis

The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 4 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where GS declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

GS broke above its upper Bollinger Band on February 12, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

Fundamental Analysis (Ratings)

Fear & Greed

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 72, placing this stock better than average.

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating outstanding price growth. GS’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.195) is normal, around the industry mean (5.527). P/E Ratio (16.970) is within average values for comparable stocks, (37.091). Projected Growth (PEG Ratio) (3.071) is also within normal values, averaging (2.549). Dividend Yield (0.028) settles around the average of (0.036) among similar stocks. P/S Ratio (2.901) is also within normal values, averaging (99.013).

Notable companies

The most notable companies in this group are Morgan Stanley (NYSE:MS), Goldman Sachs Group (NYSE:GS), Charles Schwab Corp (The) (NYSE:SCHW), CME Group (NASDAQ:CME).

Industry description

These banks specialize in underwriting (helping companies with debt financing or equity issuances), IPOs, facilitating mergers and other corporate reorganizations and acting as a broker or financial advisor for institutions. They might also trade securities on their own accounts. Investment banks potentially thrive on expanding its network of clients, since that could help them increase profits. Goldman Sachs, Morgan Stanley and CME Group Inc are some of the largest investment banking companies.

Market Cap

The average market capitalization across the Investment Banks/Brokers Industry is 10.45B. The market cap for tickers in the group ranges from 13 to 928.5B. PKRSF holds the highest valuation in this group at 928.5B. The lowest valued company is BFCH at 13.

High and low price notable news

The average weekly price growth across all stocks in the Investment Banks/Brokers Industry was 2%. For the same Industry, the average monthly price growth was 8%, and the average quarterly price growth was 25%. RGST experienced the highest price growth at 71%, while HAITY experienced the biggest fall at -32%.

Volume

The average weekly volume growth across all stocks in the Investment Banks/Brokers Industry was 26%. For the same stocks of the Industry, the average monthly volume growth was -11% and the average quarterly volume growth was 63%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 56
P/E Growth Rating: 65
Price Growth Rating: 52
SMR Rating: 70
Profit Risk Rating: 71
Seasonality Score: 8 (-100 ... +100)
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A.I.Advisor
published price charts
A.I. Advisor
published General Information

General Information

a provider of investment banking, securities and asset management services

Industry InvestmentBanksBrokers

Profile
Fundamentals
Details
Industry
Investment Banks Or Brokers
Address
200 West Street
Phone
+1 212 902-1000
Employees
48500
Web
https://www.goldmansachs.com
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GS and

Correlation & Price change

A.I.dvisor indicates that over the last year, GS has been closely correlated with MS. These tickers have moved in lockstep 72% of the time. This A.I.-generated data suggests there is a high statistical probability that if GS jumps, then MS could also see price increases.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To GS
1D Price
Change %
GS100%
-0.24%
MS - GS
72%
Closely correlated
+0.51%
JEF - GS
71%
Closely correlated
-0.02%
SF - GS
68%
Closely correlated
-0.54%
EVR - GS
67%
Closely correlated
-0.42%
RJF - GS
63%
Loosely correlated
-0.21%
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