Goldman Sachs Enters Buying Zone at $898-$788

Goldman Sachs (GS) has plummeted by 20% from its peak. The stock's recent decline has raised concerns that it may have entered a bear market. However, according to an analysis based on Elliott Wave theory, there is a bullish case supporting the resumption of the uptrend.

The Elliott Wave structure unfolding in GS shows a corrective decline since its July 15, 2026 peak at $1154. The current move from this peak forms a seven-swing structure labeled as a double three (W-X-Y). Wave ((W)) ended at $977, followed by wave ((X)) at $1077.

Now, the stock is in wave ((Y)), which suggests a zigzag A-B-C pattern. The analysis indicates that wave C aims to reach the main Blue Box area of $898-$788. This extreme buying zone should trigger a market reaction higher and create a bullish reaction in the coming weeks.

The analysts suggest that Goldman Sachs bulls should enter within this zone, as it could resume the uptrend within wave V toward new all-time highs. However, until the stock breaks above the July peak, downside risk remains, and it could turn lower again after a three-wave bounce instead of a new bullish impulsive five-wave advance.