Goldman Sachs shares close higher on Monday, Wall Street bank acquires Clarity Money start-up

According to a statement by Goldman Sachs Group during the weekend, GS Bank, its subsidiary, has acquired personal finance start-up Clarity Money in an attempt to expand its Marcus on-line lending business. The terms of the deal, however, remained undisclosed.

Goldman Sachs shares closed higher for the fourth time in the past six trading sessions on Monday. The stock went up 0.77% ($1.96) to $257.88, with the intraday high and the intraday low being at $260.65 and $256.79 respectively.

In the week ended on April 15th the shares of the bank holding company added 2.38% to their market value compared to a week ago, which marked the second gain out of five weeks.

The stock has extended its advance to 2.39% so far during the current month, following a 4.21% slump in March. The latter has been a second straight monthly loss and also the largest one since May 2017.

For the entire past year, Goldman Sachs shares rose 6.39% compared with a 25.08% return for the Dow Jones Industrial Average (DJI). In 2016, however, Goldman Sachs surged 32.86%, which outstripped gains generated by the underlying index (+13.42%).

Launched in October 2016, Marcus is specialized in provision of loans ranging between $3 500 and $40 000. Its main focus is set on credit card borrowers, who are enabled to consolidate their debt into one loan and, thus, take advantage of lower interest rates.

Goldman Sachs said it expected the acquisition of Clarity Money to add more than 1 million customers to its Marcus business. The lender also said it would re-brand Clarity Money as Marcus over time.

According to CNN Money, the 26 analysts, offering 12-month forecasts regarding Goldman Sachs’s stock price, have a median target of $272.00, with a high estimate of $330.00 and a low estimate of $200.00. The median estimate is a 5.48% surge compared to the closing price of $257.88 on April 16th.

The same media also reported that 16 out of 29 surveyed investment analysts had rated Goldman Sachs’s stock as “Hold”, while 9 – as “Buy”. On the other hand, 2 analysts had recommended selling the stock.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, todays levels of importance for the Goldman Sachs stock are presented as follows:

R1 – $258.23
R2 – $258.59
R3 (Range Resistance – Sell) – $258.94
R4 (Long Breakout) – $260.00
R5 (Breakout Target 1) – $261.24
R6 (Breakout Target 2) – $261.76

S1 – $257.53
S2 – $257.17
S3 (Range Support – Buy) – $256.82
S4 (Short Breakout) – $255.76
S5 (Breakout Target 1) – $254.52
S6 (Breakout Target 2) – $254.00

By using the traditional method of calculation, the weekly levels of importance for Goldman Sachs Group Inc (GS) are presented as follows:

Central Pivot Point – $255.86
R1 – $262.56
R2 – $269.19
R3 – $275.89
R4 – $282.58

S1 – $249.23
S2 – $242.53
S3 – $235.90
S4 – $229.26