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For today's chart we've chosen to take a look at Gilead Sciences Inc. (Nasdaq:GILD) because several technical indicators are suggesting that we could see a pullback toward the support of the 50-day moving average (currently near $77). As you can see from the chart below, the rally that started earlier in the year has encountered resistance near the $85 level and as a result we've started to see the bears step in and push the stock lower. Notice how the the 15-day moving average (blue line) acted as an area of short-term support during the rally and how this story is changing because of today's 2.5% decline.

We've also included the Parabolic SAR and the MACD indicators, which have both triggered technical sell signals. The MACD indicator has recently crossed below its 9-period EMA, known as a signal line, which will likely be used by traders to confirm the drop toward the 50 DMA. It should be noted that the upward diverging moving averages is a sign that the uptrend is still valid and that traders will pay attention to the various indicators because they are suggesting potential weakness in the trend before it is able to head higher again and not a full reversal.

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