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GILD : Bearish Signal (Beware)

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 note of.

2. Support level is sighted at 43.80; a level that has been supported 3 times this year.

3. For those holding long positions of GILD, that is a level to take note of. Take care out there. The major indices are hitting resistant levels soon and may turn down as well.

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