Technical Watch: Goldman GS (152.83) ST oversold levels maintain high volatility

As Goldman approaches the 148-150 support area, all indicators are exhibiting oversold conditions and argue a short-term bounce. However, as emotional energy at this level continues to build, expect increased volatility. Expect an eventual short-term breakdown, confusing technicians terribly while the fundamental community will argue a buy at these levels for a longer-term price runup to target the previous highs(193).