50sma has been an important moving average for this ETF.
We see 3 consecutive tests of the 50sma as resistance and a bounce lower.
As we see lower highs and lower lows, the bearish trend is confirmed.
I expect we fail again and test the blue line ($144.5).
I don't know what's the deal with GILD and it's driving me crazy
- the price keeps teasing my breakeven :) -- only to bounce back down
- i was finally getting optimistic, thinking the curse have been lifted.. (see linked post) - not so sure now
- the sentiment went back into negative territory, so did the short term momentum (check the UTO indicator)
- Buy/Sell is...
$GILD is looking bullish going into 2021
We need a breakout of this downtrend channel for the impulsive waves to be valid, look for a break at the red trendline as well as a retest as support in wave 4
I dislike Pharma as much as I dislike manipulation but GILD bounced off .618 fib and I like it. Seems like a $65-70 stock trading at a discount.
Solid 4.8% DIV yield in addition.
Dont forget these folks also have anti Rona stuff so it could all come together.
I like this chart a lot actually. if we bounce off this crossroad, we will reach the moon eventually. Adding a little to my long position.
Have a terrific weekend!
I think this is likely an opportunity like the one offered by $MU in 2016 when I last published a long term chart about it. We may have a huge long term bottom at hand here.
I'm already in this position, but it's viable to start accumulating shares here, as this will be a lengthy long term advance if I'm correctly diagnosing it, downside risk is minimal.
Valuation...
GILD seems to be finally attempting to make a serious up move and breaking back into the $60's
we've been holding this long position for a while, and was about to declare it a loser and close on a loss (which i totally hate!!), given the many signs of weakness GILD showed (yellow arrows), even when there was reasons to show strength (Remdesivir used on POTUS,...
NASDAQ:GILD
Possible Scenario: SHORT
Evidence: Advance Block with low volume for each candle
Exit: After 5 bars
This is my opinion and could be wrong 100%
Is it just me or does it look like GILD is trying to find a tradeable low here? It's been performing like shit but I'm going to keep an eye on it. At some point it might want to mean revert to the 200MA.
