Shares of Goldman Sachs (NYSE:GS) are surging as the new week begins. At midday GS is the top gainer in the S&P 500 Index with a 6% gain. This powerful Fed inspired ramp has driven the stock to new 2020 highs with the help of a nice uptick in volume. We expect today’s powerful move will propel the stock to new all-time highs ($275.30).
Back in early November, we highlighted GS just as the current bull run was beginning. We remain bullish. The $250.00 to $245.00 area should be considered key nearby support.
Note: We are long GS in some managed accounts and will be looking to add on weakness.
You can read Gary S. Morrow's original post here.