According to reports, Gilead Sciences Inc. (GILD) has been working with regulatory authorities to start additional expanded access programs for remdesivir, its investigational medicine for Covid-19. This news has garnered media and investor attention too.
The trading activity in the stock has been pretty noisy. or up and down, or whatever description you like. Let's check out a few charts to see if we can cut through the jumpy price action and find the trend.
In the daily bar chart of GILD, below, we can see the trading pattern since late February has been up and down and up and down -- rapid swings that could make your head spin. Dips to the rising 50-day moving average line have been bought and the rising 200-day moving average line smooths out the price action even more.
The daily On-Balance-Volume (OBV) line shows a very jumpy trend so it is hard to decide if buyers or sellers have been more aggressive in recent weeks. The Moving Average Convergence Divergence (MACD) oscillator also shows a jumpy picture. The indicator is above the zero line but its next move could be bullish (up) or bearish (down to the zero line).