Goldman Sachs Stock Brushes Off Steep Price-Target Cut

The equity is today eyeing its fourth-straight daily win

Digital Content Manager
Sep 12, 2022 at 10:37 AM
facebook twitter linkedin


Goldman Sachs Group Inc (NYSE:GS) is brushing off a steep price-target cut from Deutsche Bank to $370 from $430, last seen up 0.9% to trade at $343.44. The financial services concern is in focus after reports its credit card loan loss rate is the worst among U.S. issuers, and well above that of subprime lenders. Over a quarter of the company's credit card customers have a credit score below 660, leaving it exposed to substantial losses in the event of a recession.

The equity is extending a bounce off a pullback to the $325 region, and is now eyeing a fourth-straight daily win. The 50-day moving average is guiding the shares higher as well, after moving in as support in mid-July. Year-over-year, though, Goldman Sachs stock has shed 15.2%.

The options pits remain firmly bearish, per the security's 10-day put/call volume ratio of 1.27 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which ranks higher than 94% of readings from the past year. In other words, traders have been picking up puts at a much faster-than-usual pace lately.

 

Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 

 


 


 
Special Offers from Schaeffer's Trading Partners