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According to a statement by Goldman Sachs Group Inc (GS) on Tuesday, the bank intends to hire 250 employees in Poland next year. The new hirings will encompass primarily back office roles such as treasury, human resources, risk management, operations and technology, which the bank does not consider necessary to locate in more expensive centres such as London or Frankfurt.

Goldman Sachs shares closed lower for the first time in the past six trading sessions on Tuesday. It has also been the steepest daily loss since November 14th. The stock went down 0.93% ($2.32) to $248.33, with the intraday high and the intraday low being at $251.19 and $247.42 respectively.

In the week ended on December 3rd the shares of the bank holding company added 5.51% to their market value compared to a week ago, which marked the first gain out of four weeks. It has also been the best performance since the week ended on December 11th 2016.

However, due to yesterdays retreat, the stock has pared its advance to 0.28% so far during the current month, following a 2.13% surge in November. The latter has been a third consecutive month of gains.

For the entire past year, Goldman Sachs shares rose 32.86%. The stock has gained another 3.71% so far in 2017.

According to a spokesperson for Goldman Sachs, the bank intends to sharply expand its staff in Poland to about 750-800 by the end of 2018. At present, Goldmans headcount in the country stands at 525.

It was in September, when it became clear that another US bank, JP Morgan Chase, would hire over 3 000 new staff at its global operations center in Polands capital city of Warsaw.

Poland has been seen as an attractive destination for international banks and other corporations, in part because of its less expensive labor costs.

Meanwhile, Goldman Sachs is also poised to sign a lease on a new office in Milan in an attempt to expand its operations in Italy after Brexit.

According to CNN Money, the 24 analysts, offering 12-month forecasts regarding Goldman Sachs’s stock price, have a median target of $254.00, with a high estimate of $287.00 and a low estimate of $198.00. The median estimate is a 2.28% surge compared to the closing price of $248.33 on December 5th.

The same media also reported that 15 out of 27 surveyed investment analysts had rated Goldman Sachs’s stock as “Hold”, while 9 – as “Buy”. On the other hand, 1 analyst had recommended selling the stock.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, todays levels of importance for the Goldman Sachs stock are presented as follows:

R1 – $248.68
R2 – $249.02
R3 (Range Resistance – Sell) – $249.37
R4 (Long Breakout) – $250.40
R5 (Breakout Target 1) – $251.61
R6 (Breakout Target 2) – $252.11

S1 – $247.98
S2 – $247.64
S3 (Range Support – Buy) – $247.29
S4 (Short Breakout) – $246.26
S5 (Breakout Target 1) – $245.05
S6 (Breakout Target 2) – $244.55

By using the traditional method of calculation, the weekly levels of importance for Goldman Sachs Group Inc (GS) are presented as follows:

Central Pivot Point – $244.69
R1 – $255.05
R2 – $261.15
R3 – $271.51
R4 – $281.87

S1 – $238.59
S2 – $228.23
S3 – $222.13
S4 – $216.03

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