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Look for Shares of Gilead Sciences to Potentially Rebound after Yesterday's 1.70% Sell Off

By David Diaz

Gilead Sciences (NASDAQ:GILD) traded in a range yesterday that spanned from a low of $63.09 to a high of $63.92. Yesterday, the shares fell 1.7%, which took the trading range below the 3-day low of $63.49 on volume of 2.2 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that its subscribers protect gains by selling shares of Gilead Sciences on June 27th, 2019 by issuing a Downtrend alert when the shares were trading at $66.83. Since that call, shares of Gilead Sciences have fallen 3.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Gilead Sciences share prices have moved between a 52-week high of $79.61 and a 52-week low of $60.32 and are now trading 5% above that low price at $63.16 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

Keywords: rebounders Gilead Sciences

Ticker(s): GILD