Buying shares of Gilead Sciences (#GILD)

Gilead Sciences is an American pharmaceutical company.

Yesterday, the company's stock price made a decisive reversal from the MACD line support on the daily chart. The Marlin oscillator formed its ascending channel — a rise of the oscillator line toward its upper boundary or beyond is anticipated.

The price is expected to rise toward the March 10 high of 119.89, or potentially higher, with a new record price being established.

The purchase of Gilead Sciences shares is hedged by a sale of Baidu (#BIDU). Baidu is a Chinese internet search engine.

On the weekly chart, the price has been trading below the balance indicator line for four weeks. The upper shadow piercing of the previous week does not violate this consolidation. The Marlin oscillator's signal line is turning downward from the boundary of the growth zone. We expect a downward acceleration first toward the initial target of 78.95 (November 2024 low), and then toward 70.64 — the anticipated point of contact with the midline of the descending price channel.

On the daily chart, the price settled yesterday below the MACD indicator line, and the Marlin oscillator moved into negative territory. A continuation of the downward trend is expected.