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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 $65.00 and $65.54 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.

In the past 52 weeks, shares of Gilead Sciences have traded between a low of $60.32 and a high of $76.44 and are now at $65.40, which is 8% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

There is potential upside of 31.5% for shares of Gilead Sciences based on a current price of $65.40 and an average consensus analyst price target of $86.00. The stock should hit resistance at its 200-day moving average (MA) of $65.69, as well as support at its 50-day MA of $64.17.

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