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10 Stocks With Huge Rebound Potential

Goldman Sachs Group

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If you're looking for a financial stock that could have big rebound potential, then check out Goldman Sachs Group (GS - Get Report), a global investment banking, securities and investment management company providing a range of financial services to a client base that includes corporations, financial institutions, governments and high-net-worth individuals. Over the last three months, this stock has dropped 16%, and so far in 2011 shares, are down over 33%.

Since February, shares of Goldman Sachs have dropped from their 52-week high of $174.97 a share to the current price of around $134 a share. A lot of the weakness in the stock of late is due to fears that the Dodd-Frank Bill will cripple their business. Plus, a potential criminal indictment by the U.S. government could be brought against Goldman, which would cause customers to run from the Wall Street king faster than you could say "guilty." I would put the odds of Goldman being indicted at about 1%. At worst they will end up having to pay another fine and admit no wrong doing.

From a technical standpoint, shares of Goldman have might finally be finding some buying support at around $133.60 to $131.50 a share. I say finally because the stock has pretty much been in a free fall for the entire year. The stock has been basing around those levels for the past month-and-a-half, so traders need to watch how it plays out here in the next couple of weeks. It might not be a bad idea to load up on GS on any weakness.

Goldman isn't a heavily shorted stock, but if the recent lows at $131.50 can hold, then look for this stock to bounce big. It's a hated name, and traders will circle back to pick up shares on the cheap if the market wants to rebound.

Goldman, one of Bruce Berkowitz's top holdings, shows up on a recent list of the 10 Cheapest Financial Stocks.
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PAL $0.04 -10.48%
GS $164.11 0.00%
NILE $25.78 0.00%
SOHU $44.93 0.00%
SODA $13.72 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

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