$Gild Potential Weekly Head and Shoulder

GILD is on crucial support after failing to clear the $84 channel with a double top breakdown in May. There is strong support at $72 which has been tested multiple times going back to 2017, but a further break below 72 may now provide another ticket to ride back towards the bottom of the horizontal channel to its long term support at $62. Strangely its Covid boost has resulted in the weekly 21ma crossing over the 200ma for the first time since Feb 2012 with the 50ma lagging below. On the Daily the 51ma has however already dropped below the 21ma and a double top is present with a target of 68, which coincides with the 200ma.