Stock Update: GS

R2 - $184
R1 - $176
S1 - $166
S2 - $147
Big bad Goldman Sachs. The investment bank who has a ducks back and has somehow managed to avoid getting implicated in anything despite all the rumors around their involvement in helping Greece to mask its deficit, its derivative activities with AIG, using its insider knowledge from transactions it was handling with clients to take opposite positions on those clients to name a few.

The fact is that they are alive and kicking. At the end of January this year, their stock hit a low of $147. Friday Mar 12 it closed at just under $175. The first hurdle point is $176 which it did touch briefly on Friday, and if GS can maintain its momentum above that, I'd like to believe it will be a short walk to $184 beyond which we can possibly see $190 again.

Expect a pull back in the next couple of weeks. Take profit if you are in and wait for opportunities if you are not.

Source:E*Trade