Purchase of Gilead Sciences (#GILD) shares. Biopharmaceutical company.
On the weekly chart, the price went over the balance indicator line after two consecutive reversals from the zero line of the Marlin oscillator (these points are marked with arrows), thereby shifting the mood of the upward trend. A steady increase in the price is seen in the gray area, from which there were strong reversals in December 2019, January 2021, and a strong break down in August 2020.
On the daily chart, the price bounced off the 38.2% retracement level (actually 61.8%) twice and slightly slowed down in the current growth on the MACD line. The Marlin oscillator is already in the growth zone, so after the price overcomes the resistance of the MACD line, a sharp increase in the price is possible. The growth targets are determined by the Fibonacci reaction levels: 69.30, 70.60.
Sale of American International Group (#AIG) shares. Insurance company.
On the weekly chart, the price reverses from the upper limit of the price channel with a confirming divergence with the Marlin oscillator. The price may move to the area of convergence of the nested lines of two descending price channels - lilac and azure colors, slightly above the target level of 41.20 – the February low.
A divergence is also formed on the daily chart, with the Marlin oscillator attacking the border with the territory of the declining trend. On this chart, we specify the targets: 44.95 – the minimum on March 4, 42.70 - the actual area of convergence of the two trend lines, and 42.20 - support for several days in mid-February.