For today's chart we've chosen to take a look at Gilead Sciences Inc.
) 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.