This story was originally published here.
Stocks slipped in the opening minutes of Wednesday trading, but clawed back some of those losses by the close. With that in mind, let’s look at a few top stock trades for Thursday.
Top Stock Trades for Thursday No. 1: Goldman Sachs (GS)
Goldman Sachs (NYSE:GS) is one of the few bank stocks rallying after reporting earnings. The stock traded down just below $170 after reporting its quarterly figures, but has since rebounded from those lows.
Don’t feel like you’ve missed the boat, though. Now we have levels we can trade against.
On the downside, we have a low of $169.15 to measure against. On the upside, there’s clear resistance near $184. If shares of Goldman Sachs can clear resistance over $184, it could fill the gap up toward $190. Above that and there is a plethora of major moving averages up between $205 and $210.
On the downside, watch for a move back down to $169. Below that opens up the potential for another test of $150. Below that technically puts the $130 March low in play, but let’s not get ahead of our skis.
Editor's Note: To keep reading and see the other three trades, click here.
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