Goldman Sachs (GS) : Trend remains down

Goldman price rises as high as 140.15 yesterday on news that their hearing will be extended to July 19; the original date fo r the hearing was supposed to be yesterday (June 21).

However, the price reverse and close off on the low at 137. Volume is also very low for the day.

GS price is unlikely to go up much until the hearing is completed.

If the reversal plays out, we should have a target of $131 (it’s recent low). Any more bad news (eg. more lawsuits) may see it break the recent low.

Likewise, a confirmed settlement with SEC can revive its price movement upwards.


Radware Ltd (NASDAQ:RDWR) : Bull short candidate

An update to my last post on a possible bull short on RDWR.

My last post highlighted that RDWR has moved up a lot within a short timeframe and the stock has failed to go higher.

Since my last post, RDWR has struggled to go higher above $23 and in most days it is with low volume.

In fact, most of the buyers seems to have exited their long positions.

Today, RDWR gap down on opening. Pretty much thanks to the news from Goldman Sachs.

On the Ichimoku chart, it is now sitting on the Support level of $22.06 as identified by the Chikou Span.

If it breaks this level, it may go to $21.