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 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.
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,...
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.