Goldman Sachs (NYSE:GS) has ripped higher for five straight days. And just as the amateur investor is buying in, the smart money is selling. Why? Because the GS chart is near-term extended and approaching a major technical level known as 'gap fill', which is clearly visible on the chart below.
The potential short trade will only be initiated IF GS hits gap fill at $159.40 in the next two days (by Thursday, July 14, 2016). This is known as a swing trade, meaning that you look for a sharp pull back over the course of one week, then take profits. The pull back could potentially take you to a target of $149.75. If this trade plays out correctly, it would be an approximate $10 profit on Goldman Sachs in one week.
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