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Goldman Sachs Share Price Bounces From Support

Investors who bought Goldman Sachs shares in the beginning of 2022 have not had a pleasant time in the stock market so far. Goldman Sachs’ price opened in 2022 at $386.85 per share. Two days later, it rallied to $413.32 which stands as the year’s high. Since then, Goldman Sachs’ share price has been falling. This bearish run plunged the price down to $277 in July 2022 which simultaneously stands as the year’s low and the current support level of the year.

Daily Chart

In the second half of July, Goldman Sachs share price saw a bounce from the year’s support level which pushed price to $359. This price was hit on the 16th of August. $359 is currently the resistance level of the second half of the year. In the last two weeks of August, the bears were able to push price down from the resistance level to $322.65. This stands as the most recent support level  as the candlesticks of the last four trading days have closed bullish.

Monthly Chart

Price is currently at $342.85. Despite indications that price has been overbought on the RSI hourly time frame, there is a tendency that price will rally further to break the current $359 resistance mark to the upside.

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