GILD: Daily Chart Support

Though not positively aligned with a rising long-term interest rate environment, maybe BioPharma has anticipated the bump in yields and bottomed. We’ll see. But one stock we’ve tracked in the NFTRH+ Notes & Charts segment is Gilead, which I’d traded successfully 2 or 3 times and most recently been watching, as NFTRH 475 updated its status at support. Well, barring anything untoward NFTRH 476 will be noting it as a new position because I bought it right at the SMA 200 a couple days ago.

GILD has done a full 62% Fib retrace to the area where daily lateral support meets the SMA 200. MACD is triggered up and RSI got oversold and popped. I wouldn’t be surprised to see a pullback to fix the suddenly peppy RSI, but overall if the sector firms and Gilead does not pull a Celgene I think it can get a good bump up.


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