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Biotechnology Industry Technical Analysis

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- 1/8/2021 -
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Gilead Sciences (GILD)

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Summary:
Weekly :Weekly  MACD line has moved above its signal linePrice is near the Fibonacci 23.6% retracement level
Daily :Williams' Percentage Range is overboughtLane's Stochastic is strongly overboughtPrice has crossed above the 50 Day Moving AverageBearish Deliberation CandlestickStochastic signal line moved above oversold areaDaily  MACD line has moved above its signal lineThe price moved above the moving average in the center of the Bollinger Bands
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It was a second positive week after 3 consecutive negative weeks for the Gilead Sciences (GILD). During the week, the GILD gained 4.78 points, or 8.20%, and closed at 63.04 on Friday, January 8, 2021. Weekly volume was -11% below average.

Long-term trend: [See GILD long-term trend chart]
A long-term uptrend had started on December 26, 2018 at 60.32 and reached 85.97 on March 19, 2020. GILD gained -25.65 points, or -42.52%, in 64 weeks. The price is now at the 89.40% retracement level.

Medium-term trend: [See GILD medium-term trend chart]
A medium-term downtrend had started on April 17, 2020 at 85.79 and reached 56.56 on December 30, 2020. GILD lost 29.23 points, or 34.07%, in 36 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Weekly Technical Indicators: [See GILD weekly technical indicators chart]
Weekly technical indicators are neutral.

During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. Use the following link to access a MACD help.

Short-term trend: [See GILD short-term trend chart]
A short-term uptrend had started on December 30, 2020 at 56.56 and reached 63.41 on January 8, 2021. GILD gained -6.85 points, or -12.11%, in 9 days. The price is now at the 5.40% retracement level.

Daily Technical Indicators: [See GILD daily technical indicators chart]
Daily Williams' Percentage Range is overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range or strongly overbought daily Lane's Stochastic. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

During the last week, the price has advanced above the 50 Day Moving Average. While the medium-term trend is down and daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Candlestick pattern: [See GILD candlestick chart pattern]
On Friday the chart has formed a Bearish Deliberation Candlestick pattern. This pattern occurs in an uptrend;it appears after a sustained upward move and suggests that the rally is losing strength and a reversal is possible. The reliability of the Bearish Deliberation pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bearish Deliberation Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 70.23
Williams' Percentage Range (W%R) 11.70
Overbought
Lane's Stochastic (%D-Slow) 93.70
Strong Overbought
Greed/Fear Indicator (GFI) 84.09
Overbought
Moving Average Converg./Diverg. (MACD) -0.28
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 51.95
Williams' Percentage Range (W%R) 54.10
Lane's Stochastic (%D-Slow) 39.21
Greed/Fear Indicator (GFI) 44.28
Moving Average Converg./Diverg. (MACD) -2.98
Trading Signals
Description Value Chart
Upper Bollinger Band 63.54
Price 63.04
Daily Stochastic Crossing 62.89
50 Day Moving Average 59.74
20 Day Moving Average 59.19
Weekly Stochastic Crossing 59.05
Parabolic System 58.08
Lower Bollinger Band 56.02
Sector and Industry
Description Name Rank
Sector Health Care 6
Industry Biotechnology 20
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 56.56
Low Date 12/30/2020
High 63.41
High Date 01/08/2021
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 56.56
Low Date 12/30/2020
High 63.41
High Date 01/08/2021
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 85.79
High Date 04/17/2020
Low 56.56
Low Date 12/30/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 85.97
High Date 03/19/2020
Low 56.56
Low Date 12/30/2020
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 60.32
Low Date 12/26/2018
High 85.97
High Date 03/19/2020
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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