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

By Nick Russo

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 $69.01 and $69.40 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, 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 has overhead space with shares priced $69.17, or 19.6% below the average consensus analyst price target of $86.00. Gilead Sciences shares have support at the 50-day moving average (MA) of $65.57 and additional support at the 200-day MA of $65.35.

Over the past year, Gilead Sciences has traded in a range of $60.89 to $71.19 and is now at $69.17, 14% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.2%.

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