Gilead Sciences A Sellers Favourite As Pricing Pressure Bites

Gilead Sciences is due to report earnings on Monday (25/7) after the market closes. The second-quarter profit of the research-based bio-pharmaceutical company is forecast to slip by 13 cents per share from a figure of $3.15 EPS in the same quarter a year ago. Additionally, the revenue is expected to arrive at $7.77 billion for the three months that ended in June, which is less than the number of $8.24 billion in the same period of last year. The firm is anticipated to post disappointing earnings due to lower Hepatitis-C product sales, due to global pricing pressures and lower market share in Europe. On the hourly chart, the price was dragged down by the darkening outlook ahead of the Q2 earnings report. RSI (14) edged down to a level of 46, consolidating the downtrend further.

Trade suggestion

Sell stop at 86.47, Take profit at 86.29, Stop loss at 86.55

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