Ominous Death Cross Forms On Gilead Sciences's Chart
Portfolio Pulse from Benzinga Insights
A 'death cross' has formed on the chart of Gilead Sciences (NASDAQ:GILD), which could indicate a bearish trend for the stock. This occurs when the 50-day moving average moves below the 200-day moving average. The company's stock is currently trading around $75.61. Investors often use this as a signal to start considering possible short positions.
June 28, 2023 | 2:48 pm
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The formation of a 'death cross' on Gilead Sciences' chart could indicate a potential downward trend for the stock. This may lead investors to consider short positions.
The 'death cross' is a technical indicator that suggests a bearish trend when the 50-day moving average crosses below the 200-day moving average. This has occurred for Gilead Sciences, which could lead to a downward trend in the stock price. Investors often use this as a signal to consider short positions, which could increase selling pressure on the stock.
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