Gilead Sciences (GILD) has been in a downward spiral since mid-2015 and it still continues to be pointed down, unfortunately.
In this one-year daily chart of GILD, above, we see just part of the decline. After a two-month rally in March and April last year, the rallies have not lasted as long and have rebounded much less. The 50-day moving average line and the 200-day moving average line have had downward slopes since May.
The On-Balance-Volume (OBV) line has also been in downtrend since May and tells us that sellers of GILD have been more aggressive for months. The 12-day momentum study in the lower panel is not giving us any strong clues that the decline is slowing.
In this weekly chart of GILD, above, going back four years we can see the uptrend, the top and the decline. Prices are below the declining 40-week moving average line. There is some old support (former resistance) in the $60 area and it looks like GILD is headed there.
The weekly OBV line has been in a prolonged sideways trend, but there is a second weakening trend that is becoming visible. The weekly MACD oscillator has been in bearish territory for more than a year.
Bottom line -- the old saying of "don't fight the trend" has been in operation on GILD for a long time. With no signs of a bottom yet, I would remain on the sidelines of GILD.