Gilead in a free falls - Analysis - 19-10-2021

Gilead's stock (GILD) tumbled 2.56% in the last session amid negative signals from the RSI, and negative pressure from the 50-day SMA, piercing the important support of 66.90, representing the ratio 38.2% of Fibonacci retracement levels for an ascending wave in the medium term (from 56.54 to 73.30).

Therefore we expect more losses for the stock, targeting the pivotal support of 62.97, representing the ratio 61.8% of the same retracement levels.

Expected trend for today: Bearish