Gilead Sciences Nears 30-Month Low, Attempts To Rebound

Gilead Sciences, Inc. GILD shares are trading lower by $0.07 at $72.40 in Wednesday's session. Earlier in the session, the issue was lower as the entire sector was under pressure following a statement by Donald Trump that he intends to lower drug prices.

Off a lower open, it found support just ahead of its November 4 low ($71.39), only reaching $71.55, and rebounded. That November 4 low was lowest level for the issue since April 21, 2014, when it bottomed at $69.40.

The ensuing rally has found resistance just ahead of Monday's high ($72.97), only reaching $72.90, and has been consolidating at $72.40 area.