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Goldman Sachs (GS) Showing Bearish Technicals With Resistance At $246.16

Nov 07, 2017 (Marketintelligencecenter.com via COMTEX) --

After Nov 6, 2017aEUR(TM)s trading in Goldman Sachs (<a href="http://www.marketintelligencecenter.com/symbol/GS">GS</a>) MarketIntelligenceCenter.com's patented algorithms uncovered a trade that offers a 3.23% return or 16.15% on an annualized basis (for comparison purposes only), while providing 4.51% downside protection. The trade is a Jan 19, 2018 covered call at the $240 level for a net debit of about $232.49. The net debit is also the breakeven point for this trade. For a higher return, consider buying a longer-term call option, like the Jan 18, 2019 at the $125 level. By buying the call for $120.90 instead of paying about $243.49 for the stock, the assigned return rate for this alternate trade is 4.64%, but the stock has to finish above $234.90 when the sold call expires for this trade to be profitable. Standard & PooraEUR(TM)s has a 3 STARS (out of 5) hold ranking on Goldman Sachs. Technical indicators for the stock have been bearish and support and resistance have been in the area of $240.34 and $246.16, respectively.

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