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Possible Bearish Inside Day Candle Pattern Detected for Gilead Sciences (NASDAQ:GILD)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Gilead Sciences (NASDAQ:GILD) based on the price action in the company's shares. Today's price range of $66.57 and $66.75 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Gilead Sciences may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Gilead Sciences (NASDAQ:GILD) has potential upside of 29.0% based on a current price of $66.69 and analysts' consensus price target of $86.00. Gilead Sciences shares have support at the 50-day moving average (MA) of $65.47 and additional support at the 200-day MA of $65.35.

Gilead Sciences, Inc. is a research-based biopharmaceutical company that discovers, develops, and commercializes therapeutics to advance the care of patients suffering from life-threatening diseases. The Company primary areas of focus include HIV, AIDS, liver disease, and serious cardiovascular and respiratory conditions.

Gilead Sciences share prices have moved between a 52-week high of $70.50 and a 52-week low of $60.32 and are now trading 11% above that low price at $66.69 per share. The 200-day and 50-day moving averages have moved 0.09% higher and 0.56% higher over the past week, respectively.

SmarTrend is tracking the current trend status for Gilead Sciences and will alert subscribers who have GILD in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle Gilead Sciences

Ticker(s): GILD