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.

gild

Subscribe to NFTRH Premium for an in-depth weekly market report, interim updates and NFTRH+ chart and trade ideas; or the free eLetter for an introduction to our work. You can also keep up to date with plenty of actionable public content at NFTRH.com by using the email form on the right sidebar. Or follow via Twitter @BiiwiiNFTRH, StockTwits or RSS. Also check out the quality market writers at Biiwii.com.