Goldman Sachs Group (NYSE:GS) traded higher Tuesday after reporting earnings. At one point, the financial giant traded higher by $2.77 to $214.35 a share as investors celebrated the company's results. Now investors are wondering how high GS stock could go before it stalls out. After all, the stock has been rising since June 3 when it traded as low as $180.73 a share.
Big Resistance
Traders and investors can easily see that GS will face major resistance around the $220.00 area. That key level is where the stock broke down on volume back in early November 2018. Often, when a stock retraces back up to its former break-down level it will be met with major selling pressure. Remember, there are traders who have been holding the equity since that low and I'd expect many of them to look to get out of the stock when they get back to break-even.
