Rich Ross Is Bullish On Goldman Sachs

Rich Ross of Evercore ISI shared with the viewers of CNBC's "Trading Nation" his trading idea in Goldman Sachs Group Inc (NYSE: GS).

He said the stock pulled back around 18 percent of its March highs, which is a one third retracement of its move higher from the October lows. He added that Goldman Sachs is currently trading close to its 200-day moving average, and he sees this price level as a critical support.

Ross believes that the stock is oversold and he wants to take a long position. He would also place a stop loss at $210.