Goldman Sachs's most recent trend suggests a bullish bias. One trading opportunity on Goldman Sachs is a Bull Put Spread using a strike $197.50 short put and a strike $192.50 long put offers a potential 29.53% return on risk over the next 8 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $197.50 by expiration. The full premium credit of $1.14 would be kept by the premium seller. The risk of $3.86 would be incurred if the stock dropped below the $192.50 long put strike price.
The 5-day moving average is moving up which suggests that the short-term momentum for Goldman Sachs is bullish and the probability of a rise in share price is higher if the stock starts trending.
The 20-day moving average is moving up which suggests that the medium-term momentum for Goldman Sachs is bullish.
The RSI indicator is at 50.5 level which suggests that the stock is neither overbought nor oversold at this time.
To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here
LATEST NEWS for Goldman Sachs
Snowflake Attracts Berkshire, Salesforce to Technology IPO
Tue, 08 Sep 2020 22:51:53 +0000
(Bloomberg) — Snowflake Inc. plans to raise as much as $2.38 billion in one of this year’s biggest technology initial public offerings that has already attracted the likes of Warren Buffett.The San Mateo, California-based company said in a filing Tuesday that it will market 28 million shares for $75 to $85 each. At the top of that range, Snowflake would be valued at $23.7 billion based on the outstanding shares listed in the filing.That would give the cloud-data company a valuation of almost twice that in its last private funding round of $12.4 billion.Timed with the IPO, Berkshire Hathaway Inc. and Salesforce Ventures, an arm of Salesforce.com Inc., will each buy $250 million the company’s Class A common stock in a private placement. Berkshire has also agreed to buy 4 million shares in a secondary transaction, according to the filing.Snowflake raised $479 million in February at a valuation of $12.4 billion from backers including Dragoneer Investment Group and Salesforce Ventures. Other investors include Iconiq Capital, Sequoia, Altimeter Capital, Madrona Venture Group, Redpoint Ventures and Sutter Hill Ventures.Tech RushOther technology companies are also gearing up for their listings once the U.S. holiday weekend is over. JFrog Inc., a technology company that makes tools for software developers,set terms on Tuesday for its up to $428 million IPO, according to a filing.Cloud software platform Sumo Logic Inc. also filed Tuesday to sell 14.7 million shares at $17 to $21 apiece, or $310.8 million, its listing document shows.Meanwhile, the two direct listing candidates, Palantir Technologies Inc. and Asana Inc. are hosting investor days Wednesday and Thursday respectively, the companies said on their websites.Snowflake, which announced an enhanced strategic partnership with Salesforce in June, said it had more than 3,000 customers as of July 31, including 146 of the Fortune 500, according to its filing.The company said it lost $171 million on revenue of $242 million for the six months ended July 31, compared with a loss of $177 million on revenue of $104 million for the same period last year.The Snowflake offering is being led by Goldman Sachs Group Inc. and Morgan Stanley. Snowflake plans to list its shares on the New York Stock Exchange under the symbol SNOW.(Updates with background starting in 7th paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Bank Stocks Had a Pretty Bad Day, Too. Here’s Why.
Tue, 08 Sep 2020 21:52:00 +0000
STOCK ALERT Bank stocks took a brutal beating in Tuesday’s already bleak trading day. The KBW Bank Index (ticker: BKX) was off by 3.5%, exceeding the 2.8% drop in the S&P 500. Meanwhile, the KBW Regional Banking Index (KRX) plunged 5.
Boeing, Apple Inc. share losses contribute to Dow's 350-point fall
Tue, 08 Sep 2020 17:12:00 +0000
DOW UPDATE Shares of Boeing and Apple Inc. are trading lower Tuesday afternoon, leading the Dow Jones Industrial Average selloff. Shares of Boeing (BA) and Apple Inc. (AAPL) have contributed to the index's intraday decline, as the Dow (DJIA) was most recently trading 358 points lower (-1.
Dow's 430-point fall led by losses for shares of Boeing, Chevron
Tue, 08 Sep 2020 15:02:00 +0000
DOW UPDATE The Dow Jones Industrial Average is in a selloff Tuesday morning with shares of Boeing and Chevron seeing the biggest declines for the index. Shares of Boeing (BA) and Chevron (CVX) have contributed to the blue-chip gauge's intraday decline, as the Dow (DJIA) was most recently trading 430 points, or 1.
Goldman Investor Looks Past Tech Selloff to Laggard Stocks
Tue, 08 Sep 2020 13:40:35 +0000
(Bloomberg) — A Goldman Sachs Group Inc. asset manager remains optimistic about equities, despite the recent selloff in technology stocks and is waiting for laggards to catch up with the gains as economic growth picks up.“We are still looking for a wider participation in the equity market rally, which will reflect broader-based economic improvement,” Shoqat Bunglawala, head of global portfolio solutions for EMEA and Asia Pacific at Goldman Sachs Asset Management, said in a phone interview.“Rather than focusing on short-term vulnerability in tech stocks, which are likely more a function of the significant run-up that we’ve seen recently, we think it’s important to look at whether we see broader participation across sectors in equity markets to see whether they catch up,” Bunglawala said.The $1.8 trillion fund manager is weighing in on the debate after last week’s plunge in the Nasdaq 100, led by the likes of Apple Inc. and Amazon.com Inc., made market players wonder whether this is the start of a bigger correction in some frothier valuations. The more than 50% rally in U.S. equities from their March lows has been fueled largely by a handful of technology giants, seen as among the biggest winners from lockdowns and increased internet use.Bunglawala, who correctly predicted in early March that investors should brace for more losses because of the Covid-19 pandemic’s wide-ranging economic damage, is identifying smaller and cheaper value companies to join the rally in stocks after they lagged growth and defensive names for most of this year. Improving economic activity and supportive low-rate policies are generally favorable for equities, he said.The Nasdaq 100 Index extended last week’s losses on Tuesday, tumbling as much as 4.2% after U.S. markets were closed on Monday for a holiday.While Goldman’s global portfolio solutions group favors U.S. equities over the rest of the world, it has some tactical exposure to European cyclicals and Bunglawala says European stocks can benefit from improving global growth.Like most investors, Bunglawala is keeping an eye on progress in developing a Covid-19 vaccine and says that the sooner-than-expected approval and dissemination of a vaccine would give risk assets an additional boost.“The overall outlook is constructive, though we remain mindful of downside risks and that’s why we have a neutral stance toward long-term strategic asset allocation weights,” he said. “We do think there are returns that can continue to be achieved from risk assets given the improving economic outlook.”(Updates with Nasdaq 100 trading in sixth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
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