Gilead Stock Technical Analysis - Weekly Chart
Everything I’m saying right now is purely my personal opinion. investing in the stock market and your other market involves a risk of loss and you should only trade the money that you can afford to lose. with that let’s take a look at the chart of GILD or Gilead stock. if we zoom out you’ll notice that Gilead has actually had a very nice growth since 1999 and which is high as high at $122 in 2015.
Ever since it is actually broken below the Ichimoku cloud and it currently appears to be in the process of forming a double bottom bullish reversal chart pattern. so purely from a technical point of view, we can see that the bearish momentum may be coming to an end. if you look at the weekly chart you’ll notice that it has already broken above the Ichimoku cloud.
Normally, when a stock or any kind of asset price breaks above an Ichimoku cloud, we expected to have a pullback towards the upper band of the Ichimoku cloud.
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Reprinted from FXStreet，the copyright all reserved by the original author.
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