3. Strong Base. Goldman had a big rally over the summer. Then, for the next three months or so, the stock traded sideways, digesting the move and building a base. For Lang, that base is like a springboard for the stock to ultimately go higher.
4. Moving Average. Goldman Sachs is now above all of its key moving averages—the 200-day, the 50-day, and the 10-day. These are long, medium and short-term measures of the stock's trajectory, and chartists love it when a stock goes over these lines, they see it as a big green light.
5. Volume. On days the stock gained, volume was very strong - that's a classic sign that big institutional players are accumulating shares. And when big players buy, it typically generates powerful fuel for a stock to go higher.
6. Moving Average Convergence/Divergence line or MACD. This indicator is a little wonky – it detects shifts in a stock's trajectory and this indicator has made a 'bullish crossover'.
What's the bottom line?
The charts, as interpreted by Bob Lang, paint a downright beautiful picture. And they seem to confirm the fundamentals – that Goldman Sachs has room to run.