NEW YORK (TheStreet) -- Shares of Goldman Sachs Group (GS) - Get Report were up 1.04% to $208.53 in midday trading Wednesday, as a survey published earlier today showed that the company's bankers received the highest bonuses in London's banking industry this year.
New York City-based Goldman Sachs is an investment banking, securities and investment management firm that offers a range of financial services to a diversified client base including corporations, financial institutions, governments and high-net-worth individuals.
Insight from TheStreet's Research Team:
Bryan Ashenberg and Bob Lang have identified Goldman Sachs as the TrifectaStocks.com Chart of the Day. Here is what Ashenberg and Lang had to say about the stock's chart:
Goldman Sachs is still about 10% off the all- time highs set back in 2007 just before the huge financial collapse crippled the giant investment bank, bringing it to its knees as the stock was cut drastically.
The talk in 2008 and 2009 was that investment banks like Citigroup , Morgan Stanley and JPMorgan might just disappear and buckle under all of the bad debt accumulated. But, if there is one thing we should know, it is NEVER to count out Goldman.
Taking a look at the chart we see a textbook breakout on strong turnover. The recent high (at $202) was post earnings. The stock consolidated that move on lower volume, what we like to see after a run up. The more recent breakout was on higher turn, and followed a strong buy signal on the Moving Average Convergence Divergence.
The channel is defined and may predict move toward all- time highs, about 10% above the current price level. The breakout past $202 could be retraced somewhat, and a pullback to $205 or so might be an ideal entry point.
See more analysis of Goldman's chart in this video.
DISCLOSURE: Trifecta Stocks has no position in GS. This Alert is a technical analysis of the company's chart, and we are not taking any action at this time.
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Separately, TheStreet Ratings team rates GOLDMAN SACHS GROUP INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate GOLDMAN SACHS GROUP INC (GS) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and attractive valuation levels. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."
You can view the full analysis from the report here: GS Ratings Report