Gilead Sciences, Inc., a biopharmaceutical company, discovers,
develops, and commercializes medicines for the treatment of life
threatening diseases in North America, South America, Europe, and the
Asia-Pacific. The company’s products include Stribild,
Complera/Eviplera, Atripla, Truvada, Viread, Emtriva, Tybost, and
Vitekta for the treatment of HIV infection in adults; and Sovaldi,
Viread, and Hepsera products for the treatment of liver disease. It also
offers Letairis, an endothelin receptor antagonist for the treatment of
pulmonary arterial hypertension; Ranexa, a tablet used for the
treatment of chronic angina; Lexiscan/Rapiscan injection for use as a
pharmacologic stress agent in radionuclide myocardial perfusion imaging;
Cayston, an inhaled antibiotic for the treatment of respiratory systems
in cystic fibrosis patients; and Tamiflu, an oral antiviral capsule for
the treatment and prevention of influenza A and B.
Take a look at the 1-year chart of Gilead (Nasdaq: GILD) below with my added notations:
GILD has been trending consistently higher since April, and during
that time the stock has formed a clear trendline of support (blue). In
addition, the stock has recently created at 52-week high resistance
level at $110 (red). At some point GILD is going to have to break one of
those two levels, and yesterday the stock barely held support after
breaching it intraday.
The Tale of the Tape: GILD is trading between a
trendline of support and a 52-week high resistance. A long trade could
be made at the trendline, with a stop placed below that level, or on a
break above $110. A short trade could be made on a break below the
trendline.
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