TECHNICAL INDICATORS | February 3, 2017
Gilead Sciences and the Ulcer Index
One of the worst performing sectors this past year has been the Health Care sector, and of its sub-sectors, Biotechnology was one of the poorest performers. Gilead Sciences (GILD), a component of that sub-sector lost about 21% over the past year, making it one of the weakest performers year-to-date in its group. A quick glance at its chart shows it still in a steady down trend. But we all know that nothing lasts forever and S&P 500 companies likely will not fall to zero. So, are there any early shoots of positivity which suggest we might be wise to start giving GILD a closer look for a long play?
by Stella Osoba, CMT
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