Goldman Sachs Group Inc (NYSE:GS) reported earnings that beat Wall Streets expectations. However, the stock was so overbought it still sold off. Shares of Goldman Sachs Group had surged from $175 to near $240 since Donald Trump was elected President of the United States. The surge was based on hopes that the bank could begin operating like its old self. This would require a repeal of Dodd-Frank. Even with great earnings, a 35% surge in the stock price in just over two months cannot be justified. Goldman Sachs has started a correction that will continued until it falls into the major support of $215. Investors should stay away until this price point is tagged. Once hit, it can be bought.


Investors analyze the stock chart of Goldman Sachs Group Inc