KBW raised its price target on the stock to $429 from $395. The new price target is 40.8% above where shares closed Thursday 10/06/2022 at $304.67.
This is very interesting because everyone is screaming recession by year-end. One main reason is that Goldman Sacs is one of the Dow30 stocks. This adds to my previous analysis of the Dow Jones Industrial Average chart.
Let’s go to the charts and see if we can see the 40.8% rise potential. To be honest, I can see the anticipation in the motive wave. As with the Dow Jones chart I can only see four waves. We have already made a 50% Fibonacci correction based on the low from 03/19/2020 and the high from 11/02/2021. This is all the more proof that this does turn out to be an impulse wave.
