The Greedy Trader Weekly Analysis
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Archive
- 9/7/2018
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Gilead Sciences
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Summary:
Weekly :Overbought sectorBroken trend support line
Daily :Stochastic signal line moved below overbought areaDaily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SAR20 Day Moving Average has crossed below the 50 Day Moving AverageWilliams' Percentage Range is oversoldMACD bullish divergenceThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the Gilead Sciences (GILD). During the week, the GILD dropped -3.51 points, or -4.63%, and closed at 72.22 on Friday, September 07, 2018. Weekly volume was -29% below average.

GILD is a member of Healthcare Sector. Healthcare is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See GILD long-term trend chart]
A long-term uptrend had started on June 16, 2017 at 63.76 and reached 89.54 on January 29, 2018. GILD gained -25.78 points, or -40.43%, in 32 weeks. The price is now at the 67.18% retracement level.

Medium-term trend: [See GILD medium-term trend chart]
A medium-term uptrend had started on May 3, 2018 at 64.27 and reached 79.04 on July 26, 2018. GILD gained -14.77 points, or -22.98%, in 12 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend support line (74.97) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. GILD may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.

Weekly Technical Indicators: [See GILD weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since July 6, 2018. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See GILD short-term trend chart]
A short-term downtrend had started on July 26, 2018 at 79.04 and reached 71.49 on September 7, 2018. GILD lost 7.55 points, or 9.55%, in 43 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 68.49 and resistance is at 76.33. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a short-term trend.

Daily Technical Indicators: [See GILD daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Daily MACD has bullish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 46.50
Williams' Percentage Range (W%R) 80.80
Oversold
Lane's Stochastic (%D-Slow) 37.44
Greed/Fear Indicator (GFI) 34.37
Moving Average Converg./Diverg. (MACD) -0.37 Bullish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 57.56
Williams' Percentage Range (W%R) 42.70
Lane's Stochastic (%D-Slow) 61.37
Greed/Fear Indicator (GFI) 56.55
Moving Average Converg./Diverg. (MACD) -0.14
Trading Signals
Description Value Chart
Monthly Trendline Resistance 85.19
Upper Bollinger Band 77.75
Parabolic System 76.46
Weekly Trendline Resistance 76.33
50 Day Moving Average 75.64
Weekly Stochastic Crossing 75.60
Monthly Trendline Support 74.97
20 Day Moving Average 74.61
Daily Stochastic Crossing 72.86
Price 72.22
Lower Bollinger Band 71.67
Weekly Trendline Support 68.49
Sector and Industry
Description Name Rank
Sector Healthcare 8
Industry Biotechnology 122
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 76.59
High Date 08/31/2018
Low 71.49
Low Date 09/07/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 76.33
Support 68.49
High 79.04
High Date 07/26/2018
Low 71.49
Low Date 09/07/2018
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Support
Resistance 85.19
Support 74.97
Low 64.27
Low Date 05/03/2018
High 79.04
High Date 07/26/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 89.54
High Date 01/29/2018
Low 64.27
Low Date 05/03/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 63.76
Low Date 06/16/2017
High 89.54
High Date 01/29/2018
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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