With the new high, its now possible to count a 5 wave move from the Jun lows. So if you are still long this stock you may want to consider lifting stops around at 240.00 to protect any gains you have.

From the last post I made http://www.wavepatterntraders.com/elliott-wave-analysis-of-goldman-sachs-gs/ it continued a bit higher before wave [iii] ended, but subsequently it has put in waves [iv] and [v], so we have enough gyrations to suggest its time to lock in the $$$ or move your stops higher. With the large RSI divergence, that also adds evidence to the idea that this current move is most likely a 5th wave of an impulse wave so a pullback and move lower is expected to at least correct some of this rally since the Jun 2016 lows.

Dont outstay your welcome if a big reversal is seen back under 240, you may just regret it.

Do you have a stock that you want analyzing? Then why not purchase an Elliott Wave Report, it may just save you a small fortune.