$GILD, Gilead Sciences, Inc. will release its earnings today. Looking at the 1 year stock chart above, the stock price currently trade a little above its major support (SMA 200). Looking back at the last twelve trading months, it has been a horrible losing months. The price has not performed well but has held a little above $62 which to me looks like the floor.
Depending on the earnings results, this might be the jump off point for $GILD for a breakout above its SMA 200. If earnings will be horrible and investors won't like it, it may drop below SMA 200 and might continue its slide.
I am watching the earnings and will buy on good earnings and will not make a move on a bad one.
I do not own $GILD as of time of writing. I am not paid by anyone to write my observation. This is not a recommendation to buy, hold, or sell $GILD.
UPDATE: August 3, 2019
Oh well, $GILD did not perform well during the time I was watching it. I did not pull the trigger and dropped it from my watch list. The updated 1 year chart below shows it failed to capture and hold onto SMA200. That to me is a signal that its still in a bearish price action. For now, I will look somewhere else.
