Bellwether for the financials sector, Goldman Sachs, confirmed a burial cross with momentum increasing to the downside on May 4, 2023.
Goldman Sachs is considered a bellwether stock due to its reputation as a leading investment bank and its significant influence on the financial industry. The performance of Goldman Sachs can often reflect broader market trends and investor sentiment.
Goldman Sachs is a multinational investment bank and financial services company that offers a range of services to clients, including investment banking, securities trading, asset management, and wealth management. The company provides financing, advisory and research services to corporations, governments, and individuals around the world. Goldman Sachs also participates in markets such as real estate, commodities, and currencies. The company is known for its expertise in mergers and acquisitions, initial public offerings, and other corporate finance transactions, as well as for its proprietary trading activities.