Gilead Sciences Inc

By root | August 19, 2007 AAA

For today's chart we've chosen to take a look at Gilead Sciences Inc. (Nasdaq:GILD) because it is in the process of testing the combined support of a 2.5 year trendline and its 200-day moving average. Despite the recent weakness in the markets, Gilead has held up fairly nicely and it will be interesting to see if the bulls start to step in here and prevent a shift in trend. We'll keep a bullish outlook on this stock until the price closes below the support of February's gap (illustrated by the dotted line). In addition, notice how the 200-day moving average (pink line) has propped up the price several times over the past couple years. Trader's will keep a close eye on this stock to see if the price will bounce off the long-term moving average like it did in the past.



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