Gilead Sciences Approaches Major Support Level

Gilead Sciences, Inc. GILD shares are trading lower by $1.50 at $81.49 in Tuesday's session. At this time, there is no relevant news to account for the decline.

After a higher open, it rallied another $0.08 to $83.44 before reversing course. The ensuing decline has taken the issue to $81.43 and isn't far off that low. The issue is now approaching a major support level. Since making its all-time high in June 2015 ($123.37), its June 19 low of $81.28 represents its lowest level since reaching that elevated level.