Gilead: sellers retake control
Gilead slips 1.1% as sellers retake control after the double-bottom bounce
Gilead: sellers retake control
Our view last week
Gilead is in week 16 of a sell signal, and the week just closed gained 2.7% with buying volume climbing to 96%. A double bottom has formed on the daily chart in the 122 area, with an intermediate 6% rebound giving substance to the recovery. The technical picture over recent weeks tells the story of a downside front giving ground step by step.
This week's summary
Gilead's shares had led a two-week rally — capped by the 2.7% bounce that carried them back to the double bottom in the 122 area — but this week sellers took back control: 80% of volume traded on the sell side, with the last bar dominated in extreme fashion. Price gave back just 1.1%, and the past 4 weeks of momentum keep improving: the sell signal, now in its 17th week, looks to have lost its original push.
IQS Phase
65
in tension
Signal Strength
4
decline fading out
Sizing
MINIMUM
Ranking
#87 / 137
US stocks
Trade P&L %
+5.38%
from signal to today
restricted Platinum content