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.
