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Watch for Shares of Gilead Sciences (GILD) to Approach Resistance at $66.70

By James Quinn

Shares of Gilead Sciences (NASDAQ:GILD) opened today above their pivot of $66.19 and have already reached the first level of resistance at $66.49. Should the shares continue to rise, the resistance pivots of $66.70 and $67.21 will be of interest.

In the past 52 weeks, shares of Gilead Sciences have traded between a low of $65.38 and a high of $123.37 and are now at $66.31, which is 1% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has remained constant.

Potential upside of 23.8% exists for Gilead Sciences, based on a current level of $66.31 and analysts' average consensus price target of $82.10. The stock should find initial resistance at its 50-day moving average (MA) of $92.98 and further resistance at its 200-day MA of $100.22.

SmarTrend recommended that its subscribers protect gains by selling shares of Gilead Sciences on January 24th, 2017 by issuing a Downtrend alert when the shares were trading at $70.38. Since that call, shares of Gilead Sciences have fallen 5.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: pivot alerts Gilead Sciences

Ticker(s): GILD