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

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Gilead Sciences (NASDAQ:GILD) based on the price action in the company's shares. Yesterday's price range of $78.81 and $80.17 is within the prior day'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. Traders and investors interested in shares of Gilead Sciences may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Gilead Sciences share prices have moved between a 52-week high of $85.97 and a 52-week low of $60.89 and closed yesterday at 34% above that low price at $81.31 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has risen 0.3%.

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.

There is potential upside of 5.8% for shares of Gilead Sciences based on a current price of $81.31 and an average consensus analyst price target of $86.00. Gilead Sciences shares have support at the 50-day moving average (MA) of $73.58 and additional support at the 200-day MA of $67.21.

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: bullish am inside day candle Gilead Sciences

Ticker(s): GILD