GILD) Price Shoot $90 & Above?

GILD stock’s latest quarterly balance sheet for the period ending June 2023 reported total assets of $62.34 Billion and total liabilities of $41.24 Billion. GILD’s debt-to-assets ratio is at 66.16%.

Gilead Sciences, Inc.’s latest quarterly earnings report for the period ending June 2023 displayed a revenue of $6.59 Billion, with a net income of $1.04 Million, and a profit margin from the last quarter of 15.86%. This quarter, the reported revenue exceeded analysts’ estimates by $1.928 Million (2.25%).

The GILD stock reported an EPS of $1.34 for the period ending June 2023, beating the analysts’ estimate of $1.642 by 18.42%. The next quarter’s GILD revenue is estimated to be $6.812 Billion and the estimated EPS is $1.924. The report will be released on October 26th, 2023.

The GILD stock’s dividend yield for the TTM is 3.92% and its last dividend payment was $0.75 per share. The GILD last ex-dividend date was September 14th, 2023 and its payout ratio is 15.63%.

Even though investors have taken a lot of profits from the GILD stock, the dividend amount did not flinch even though it has shown that Gilead is financially and fundamentally healthy, as it has increased from $2.28 to $2.92 in the past five years.

GILD Stock Price Technical Analysis in 1-D Timeframe

The GILD stock has a CMP of $76.96 and an intraday gain of 1.30%. The GILD stock’s average volume for the last 10 days is 4.832 Million and its current volume is 4.434 Million. The GILD stock has a float of 1.245 Billion shares and a market cap of $95.893 Billion.

According to the GILD price action displayed on the charts, the GILD stock price started inclining from the $57 support level in June 2022. It reached a high of $89 on December 13th, 2022, by making higher highs and lows. 

The GILD stock faced resistance and started to fall as investors cashed out their profits from multiple quarterly reports and dividends. This showed poor performance on the charts for the GILD price in the past 52 weeks. However, the stock has shown a recovery sign as the GILD price took support at $72 on the charts.

Therefore, if the Gilead stock manages to gain strong buying momentum and surges above the previous swing high, it can shoot a rally upwards. The probable resistance levels are between $78 and $81.

Alternatively, if the GILD stock faces resistance again and continues to fall below and breaks below $72, it could fall up to $68. 

At the time of publishing, the price of Gilead Sciences Inc. (NASDAQ: GILD) took support around $73 and rose upward by jumping above 20 and 50 EMAs. Therefore, if more buying volume assists the GILD price in surging upwards, the stock may surpass major rejecting levels and may thrust an upward rally. 

The MACD indicates a bullish cross and shows bullishness as the histogram width is broadening in the MACD tool. The RSI is at 58.84 as RSI took support on 14 SMA which is at 44.45. The indicators in the GILD stock show positive signs on the charts and a probability of reversal.

In addition, the stock ratings for GILD stock are positive and highly recommended based on 32 analysts who have evaluated the stock in the last three months. The 1-year price forecasts for GILD stock by 24 analysts range between $71.00 to $116.00.

Summary

Gilead Sciences Inc. (NASDAQ: GILD) chart indicates that the traders and investors of the share price are bullish and positive on the 1-D timeframe. The price action shows a bullish outlook at the time of publishing. The technical analysis tools of the Gilead stock price highlight upward signals and support bullishness.

Technical Levels

Support Levels: $72 and $68

Resistance Levels: $78 and $81

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

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