The post Gilead Sciences pulls back after tagging upper channel resistance appeared on BitcoinEthereumNews.com.

Gilead Sciences (GILD) is a biopharmaceutical giant behind treatments for HIV, hepatitis, and oncology. This large-cap stock has been quietly building one of the more impressive technical structures on the NASDAQ. The daily chart is now telling a story worth paying close attention to. Over the past year, GILD has traded within a well-defined ascending parallel channel stretching from the low $60s in early 2024 all the way to current levels near $150. That’s a deliberate, structured climb — not a frenzied spike, but a methodical staircase of higher lows and higher highs. The lower channel support trendline has served as a reliable floor on multiple tests, and the upper resistance line has consistently marked where buying momentum runs out of runway. What’s striking about the recent price action is the near-vertical surge in late January 2026, which drove GILD into the upper channel boundary around $157-158. That kind of move commands attention. When a stock that has spent months respecting a channel’s rhythm suddenly accelerates into its ceiling, the question isn’t whether it’ll pause — it’s how it pauses. A controlled pullback within an intact structure is a very different animal than a breakdown. Right now, GILD is doing the former. At $149.83, price has stepped back from the upper channel wall and appears to be digesting those gains. The dashed midline running roughly through the $136-140 zone at current projections represents the next meaningful area of potential support on any deeper retracement. A hold there would keep the bullish channel narrative very much alive. For traders watching this setup, pullbacks toward the $140-144 range could offer compelling long entries with risk defined below the midline. The bullish thesis remains intact as long as price holds within the channel structure. A decisive close below the lower channel support, now…

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Filed under: News - @ February 24, 2026 3:25 pm