Earlier today Goldman Sachs reported Q3 earnings of $8.25 vs. $7.69 expected. Revenues came in at $11.98 billion vs. 11.41 billion expected.
The Goldman Sachs CEO and CFO are speaking now and they say:
- global economy continues to face significant headwinds
- not seeking retail customers on a large-scale anymore
- backlog of deals remain robust
- Outlook will remain unsettled as we head into Q4
- see some signs of credit deterioration in consumer
The shares of Goldman Sachs are trading higher by $12.59 or 4.10% at $319.30. Looking at the daily chart, the price gapped above its 100 day moving average at $316.58. That is now close risk for traders looking for more upside. On the topside, the 200 day moving average at $327.93 is the next target followed by the 38.2% retracement of the move down from the 2022 high which comes in at $334.50.
Goldman Sachs close 2021 at $382.55. The corrective high in August reached $358.62.
