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Gilead Sciences Inc (GILD) “On a long-term technical basis, the stock (GILD) is trading above its 200-day moving average which implies it is in a positive trend. However, the stock has recently broken through an important trendline at 80.50 suggesting the next support level is at 79.65. This weakness suggests the long-term trend is turning neutral.
The stock has support at 79.65 and 75.59. If the stock breaks down through support at 79.65 then it will probably continue lower to 75.59. The stock will meet resistance at 80.40 and 85.79. If the stock breaks up through resistance at 80.40 then it will probably continue higher to 85.79. The 200-day moving average is at 67.75. This will also act as support. The stock is slightly overbought according to the Stochastic Indicator (66.17).”
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