Today’s instrument is the Goldman Sachs Group Inc. stock traded in the NYSE exchange under the ticker GS. 

When we look at GS’s chart, we can see it is trading in a downtrend for the last few days after the failed attempt to breach the $405 price level. It fell to $390 on the 13th of January and down to $375 during yesterday’s session where it temporarily found support. It was last found trading at $380.

Goldman Sachs Group Inc. will announce its quarterly earnings today 18th January. If earning expectations are surpassed, we could expect the price to move upwards, towards the $405 price range

Today we can expect a move close to the $390 closest overhead resistance level and possibly further.

If however, it does not manage to hold on to the current level then a move below the $375 closest support can be expected.

(Click on image to enlarge)