Goldman Sachs is not giving up it’s $20 “price target” yet…. Goldman Sachs believes that the recent oil rally won’t last, as fundamentals do not support the price action. In a research note issued yesterday, Goldman warned its clients that the sharp rally in oil prices that been taking place since last Friday (October 2), has been exacerbated by still significant short positioning and the break of key technical levels. The data releases over the past week have suggested no change in oil fundamentals. Oil stocks continue to point to an oversupplied market despite a gradual decline in US production. Oil fundamentals…
Goldman Sachs: This Oil Rally Will Fade
Sign up now and get our in-depth FREE e-books on famous investors like Klarman, Dalio, Schloss, Munger Rupert is a committed value investor and regularly writes and invests following the principles set out by Benjamin Graham. He is the editor and co-owner of Hidden Value Stocks, a quarterly investment newsletter aimed at institutional investors. Rupert owns shares in Berkshire Hathaway. Rupert holds qualifications from the Chartered Institute For Securities & Investment and the CFA Society of the UK. Rupert covers everything value investing for ValueWalk
Comments are closed.