Gilead Sciences Could Dip a Little in Reaction to Earnings

The charts are looking soft right now.
Stocks quotes in this article: GILD

Gilead Sciences (GILD) is due to report earnings Tuesday. Let's review the charts that are looking a little "soft" right now.  

 
In this daily bar chart of GILD, below, we can see that prices are trading below the declining 50-day moving average line. The lows of May and June are not far below the market and so is the rising 200-day moving average line. They are all likely targets if the bears get the upper hand.
 
The On-Balance-Volume (OBV) line shows some weakness in the back half of July, and the Moving Average Convergence Divergence (MACD) oscillator is poised to cross below the zero line for a possible sell signal.  
 
 
In this daily Point and Figure chart of GILD, below, we can see a potential downside price target of around $69. 
 
 
 
 
Bottom line strategy: Consider reducing your long exposure on GILD ahead of earnings. 
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TAGS: Investing | Stocks | Technical Analysis | Trading | Biotechnology | Healthcare | Pharmaceuticals | Earnings Preview

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