[10] GS, VZ, CL1!
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Second of the week! Let’s review a few names:
Goldman Sachs Group, Inc. (NYSE: GS)
GS is currently trading above its 2.618 Fib extension at 903.97 and compressing tightly in the pattern shown above.
Should GS break out of its resistance trendline, it should most likely see continuation into the next Fib at 1,199.28. However, if GS breaks down from its support trendline, it should trend lower into the 903.97 level.
Traders who see GS’ meteoric rise may be tempted to short it at ATHs, however, deeper pullbacks may be unlikely unless the 903.97 level is lost. A breakdown should see a retest of the 841-881 monthly imbalance.
Verizon Communications Inc. (NYSE: VZ)
VZ formed a post-earnings gap following its ER beat yesterday. It closed above the descending channel it was consolidating in, as well as above the 42.41 Fib + 42.58 yearly level.
It's likely headed into the 45.55 half-yearly resistance next. If there's a pullback, it may come back in to retest the breakout around 41.50-42.58.
Light Crude Oil Futures (NYMEX: CL1!)
CL is trading in a falling wedge consolidation pattern. Following Friday's close, CL closed just above the 65.65 yearly resistance.
If CL continues to hold above this resistance, it could see continuation into the 70-71 major resistance next. Otherwise, CL can range back into the 62-63 area.
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$Goldman Sachs(GS)$ $Verizon(VZ)$ $WTI Crude Oil - main 2603(CLmain)$ $Apple(AAPL)$ $Microsoft(MSFT)$
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