Bearish DailyPlay for Tuesday April 24th, 2018 – Gilead (GILD)
The bearish DailyPlay we chose for Tuesday, April 24th is Gilead (GILD). GILD is part of the Healthcare Sector (XLV). Over the last month, XLV has experienced a 1.23% move higher but its 1m and 6m trend have turned neutral and bearish on 4/19 while bouncing lower off its $84 resistance level.
Gilead’s 1m and 6m trends turned bearish on 4/19 while breaking bouncing lower off its $76 resistance level. With a technical score of 3 (out of 10), GILD is a weak stock that will likely trend lower.
As a stop loss, if GILD was to trade above $76 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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