Gilead Sciences stock price (GILD) inched up in the intraday levels after the current support of $63.50 held on, lending the stock some momentum while trying to recoup some recent losses, amid the dominance of the main downward trend in the medium term, with negative pressure due to trading below the 50-day SMA.

Therefore we expect the stock to return lower, targeting the support of $58.00, provided the initial support of $63.50 is reliably breached.

Forecast today: Likely Bearish