The Goldman Sachs (NYSE: GS) is on the move - both the company and the stock. As of July 20th, 2020, the stock is currently trading above its 10-day, 50-day, 100-day, and 200-day moving averages. Even thought the 50-day moving average is below the 200-day moving average, I believe it's just a matter of time when the 50-day moving average crosses the 200-day moving average. On top of that the company reported blockbuster earnings in Q2, FY 2020. The company reported its second highest quarterly net revenue in its history. Revenues were up 41% compared to Q2 FY 2019.
Exhibit: Goldman Sachs Q2 FY 2020 Results Snapshot
Goldman Sachs has been busy launching new products and services bringing innovation to the field. They have launched a new cloud-based transaction banking service that would bring modern treasury services and working capital management for customers worldwide. They have also launched a new buyout fund.
Exhibit: Moving Averages for Goldman Sachs is Bullish
Disclosure: I own Goldman Sachs.
