Technical indicators are positive but investors should closely watch the earnings report due today. As volatility could occur.

The multinational investment bank's shares are currently trading at $311.64 a share. Goldman Sachs' quarterly earnings report is due today, which could impact the direction of the share price in the days to come. From a technical perspective and by applying the Fibonacci retracement to the chart, a major resistance level sits at $315.89 (just above the 38.2% fib level). A strong earnings report could help in breaking this resistance barrier and see the stock's shares head towards the 50% fib level. Towards the downside, the first support level sits at $304.26 followed by further support at $299.10 (just below the 23.6% fib). A break below the $299.10 price level in the short/mid-term, could see the stock's shares slide towards the major support level at $284.54. Looking at the indicators, MACD is positive and RSI reads 51, both suggesting a bullish approach. However, it is important for investors to closely watch the earnings report as it could have an impact on the stock, Analysts expect earnings of $7,80 a share on revenue of $11/37 billion.