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Downtrend ExhaustionArchive
- 4/19/2024 -
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Gilead Sciences (GILD) Technical Analysis
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| Summary:
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| | It was the negative week for the Gilead Sciences (GILD). During the week, the GILD dropped -1.31 points, or -1.92%, and closed at 66.76 on Friday, April 19, 2024. Weekly volume was 15% above average.
GILD is a member of Biotechnology Industry. Biotechnology is the seventh most oversold industry. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See GILD long-term trend chart]
A long-term uptrend had started on December 30, 2020 at 56.56 and reached 89.74 on December 13, 2022. GILD gained -33.18 points, or -58.66%, in 101 weeks. The chart has formed a Broadening Right-Angled, Ascending Wedge chart pattern. The trend support level is at 57.94 and resistance is at 111.74. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Right-Angled, Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Ascending Wedge pattern in a long-term trend.
 Medium-term trend: [See GILD medium-term trend chart]
A medium-term downtrend had started on January 19, 2024 at 87.86 and reached 65.90 on April 18, 2024. GILD lost 21.96 points, or 24.99%, in 12 weeks. Price is near the trend low.
 Weekly Technical Indicators: [See GILD weekly technical indicators chart]
Weekly Relative Strength Index is oversold while Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Relative Strength Index or strongly oversold weekly Williams' Percentage Range and Lane's Stochastic. 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, Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is below its signal line since February 2, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term downtrend is strong. Use the following link to access a MACD help.
 Short-term trend: [See GILD short-term trend chart]
A short-term downtrend had started on March 11, 2024 at 76.21 and reached 65.90 on April 18, 2024. GILD lost 10.31 points, or 13.53%, in 38 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 64.73 and resistance is at 70.89. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a short-term trend.
Daily Technical Indicators: [See GILD daily technical indicators chart]
Daily Relative Strength Index is oversold while Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Relative Strength Index or strongly oversold daily Williams' Percentage Range and Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal.
The daily MACD line is below its signal line since April 1, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
A Parabolic SAR (stop and reversal) indicator (67.38) comes close to the price (66.76). It indicates that the trend is getting weaker. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
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