Goldman Sachs Group Inc

GS is in a Stage 3 distribution phase following a blow-off top and sharp reversal, yielding a medium-term bearish outlook. Price has pulled back into the 9/21 EMA zone after the exhaustion peak, and short-term timing is neutral. We defer execution and look to trim into rallies up to the EMA resistance zone for higher-probability sell entries.

• ↑EPS $17.55 and $17.2B net revenue in Q1 2026 mark second-highest result.
• ↑Returned $6.4B to shareholders via $5B buybacks and higher dividends.
• ↓Elevated recession risk may curtail capital-markets and advisory fees.