Gilead Sciences, Inc. (NASDAQ:GILD) fell by -1.54% in Thursday’s trading session from $82.57 to $81.30 and has now fallen 3 consecutive sessions. The price has fallen in 6 of the last 10 days, but is still up by 0.48% during the last two weeks. There was a decrease in both volume and price. This is usually interpreted as a good sign as traders widely believe falling stock should see declining volume. Traded activity experienced a fall of -0.04 million shares and in total 6.71 M shares exchanged hands for about $545.57 million.
Inside GILD’s Recent Trend
Gilead Sciences, Inc. (GILD) is at the bottom end of a wide and vertical trend in a short period of time, and this is generally seen as a very good entry point. A break down through the resistance trend line at $80.41 will initially suggest a lower tendency for gains in the price and this might very well be an early sign that a trend shift is coming. Short-term traders are predicted to see a rally of 18.16% over the course of a quarter and, with 90% chance the price will be floating in the range of $95.01 and $107.44 in this timeframe.
Gilead Sciences, Inc. Technical Signals
GILD has witnessed its long term and short term MA triggering a sell signal. Upon corrections, the price will meet resistance from the averages between $82.42 and $82.03. A buy signal will be generated if it crosses above any of these levels. Its pivot point high generated sell signal on Monday October 02, 2017, which calls for additional declines until the stock forms a new pivot point low, as this could be a buying opportunity. The downbeat movement of both volume and price during the recent session is interpreted as a good sign because traders usually believe falling stock should see declining volume.
Gilead Sciences, Inc. (NASDAQ:GILD) Support And Resistance Levels
Gilead Sciences, Inc. (GILD) recorded volume accumulation so there will probably be a surplus of buyers at $81.23. In case of gains, the next resistance from accumulated volume will not be far away from today’s level at $82.56, $83.71 and $83.75.
Accumulated volume is going to prevent the price from rising further at $82.56 and this action will lead the price to take a temporary pause or stay muted for a few days.
Gilead Sciences, Inc. (GILD) Risk Assessment
The number of shares changed hands in the stock is good, indicating the interest and low risk associated with it. In the most recent session, the stock price hovered around $1.80 (2.22%) between intraday high and intraday low. Each day in the past 1 week, the average volatility remained at 1.57%.