Goldman Sachs In A Free Fall

Goldman Sachs Group Inc GS shares were seen trading lower by $12.20 at $213.40 in Wednesday's session. It's just another issue that may have considerable downside ahead if President Donald Trump resigns or is impeached.

After a much lower open, it could only manage a brief $0.43 bounce to $222.16 before sellers engulfed the issue. In a straight-line fashion, the issue has fallen to $213.24 as of 2:30 p.m. ET, and it is not far off that level. That low comes in just above its April 18 low ($213.18), which represents the low for the day when the issue was slammed when the Street was dissatisfied with its first-quarter report that came up shy on both EPS and revenues.

Based on the daily charts, if the current low is breached, there may be limited support until its Nov. 29 low of $209.92.