Trading Ichimoku

Since my last post, Gilead Science has rebounded off $41 and has been consolidating in the mid-40s range. There is a chance that it may breakout of its range in the coming 2 months.

Previously, I have warn that GILD exhibits a bearish Tenkan sen – Kijun sen cross. Yesterday, GILD exhibit an abnormal behaviour (and a more worrying bearish trend). While the major indices rose more than 3%, GILD actually got sold down. From the chart, you can see that throughout May, there has been more selling than [...]

After the gap up due to the ‘swine flu’ news, GILD has been trading downwards since. To the point that a bearish signal is now sighted on the Daily Chart. 1. As can be seen, Tenkan sen has cuts Kijun sen. And with so many consecutive down days, it is definitely a signal to take [...]