GILD ends the day indecisive
Gilead Sciences Inc. (GILD) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team
Moving lower for the 4th day in a row, GILD finished Thursday at 71.15 losing $0.14 (-0.2%). Today's closing price of 71.15 marks the lowest close since June 5th. Trading up to $0.49 lower after the open, the share managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (GILD as at Jun 14, 2018):
Thursday's trading range was $1.11 (1.56%), that's slightly below last trading month's daily average range of $1.17. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average.
While the stock is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory.
Buying could accelerate should prices move above the close-by swing high at 72.28 where further buy stops might get activated. Further buying could move prices higher should the market test May's nearby high at 72.83.