Buy Gilead Sciences, JD.Com And Sell Atossa Genetics - Top RSI Trades For Today

Day Trading Ideas, RSI overbought/oversold signals - Buy Gilead Sciences, Inc. (GILD) stock, JD.Com Inc(ADR) (JD) stock and sell Atossa Genetics Inc (ATOS) stock.

Here is a summary of today's top day trading ideas based on popular momentum indicator Relative Strenght Index (RSI). The RSI indicator can be used to identify buy/sell signals in the market and today's most popular stocks flashing buy/sell signals using RSI indicator include Foster City, California-based biotech company Gilead Sciences (NASDAQ:GILD), Chinese e-commerce company (NASDAQ:JD) and  Seattle-based healthcare firm Atossa Genetics (NASDAQ:ATOS).  If you want to see the complete set of technical trading ideas for today check them out here.

Is a rebound around the corner for Gilead Sciences, Inc. (NASDAQ:GILD) stock?

Shares of Gilead Sciences have failed to sustain the rally after the Q2 2017 earnings release in the last week of July. In the month of August, GILD stock has gradually trended downwards and is down nearly 5%. Investors would be hoping for a rebound soon, as the company seems to be getting things sorted, posting better than expected earnings in the second quarter. The GILD stock may soon end its downward trend, as the as the stock is in oversold territory. The RSI indicator is flashing an oversold signal for Gilead stock. The RSI value of the stock has fallen to 27.22, which is below the commonly use oversold RSI measure of 30. The rebound in Gilead shares could get a further boost by the fact that the share price is very close to the lower Bollinger Band, implying that the indicator could flash an oversold signal as well. A rebound in Gilead shares is most likely around the corner.
GILD Technical chart

The correction in JD.Com Inc(ADR) (NASDAQ:JD) could be coming to an end.

Shares of JD.Com have had an amazing year, rising by a whopping 89% until last week. From August 9th, JD stock has been trending downwards going into its earnings. In spite of the massive correction of more than 14%, the stock is up more than 60% in the Year-to-Date. delivered better than expected results in its Q2 earnings, but the downward pressure increased on account of widened Q2 losses. However, it might be time to buy JD stock again. The fundamental story of JD has not changed much, as the company has forecasted strong revenue growth of 36% to 40% for the third quarter. Popular momentum indicators like RSI and Bollinger Bands are both flashing an oversold signal. The RSI value of the stock stands at 29.87, just below the common oversold threshold measure of 30. For JD.Com stock, the Bollinger Bands indicator is also flashing an oversold signal. The share price of the company has already fallen below the lower Bollinger Band to flash an oversold signal. This further increases the probability that JD stock may soon resume its uptrend. The combination of the above two signals is considered as a strong signal.
JD Technical chart

The upside in Atossa Genetics Inc (NASDAQ:ATOS) could be limited.

Investors of Atossa Genetics Inc are enthused by the recent announcements in the company's Q2 earnings release. The company did not generate any revenue for the quarter as the management stated they are in the research and development phase. However, Steve Quay, President and CEO, commented, "We have reached an important milestone by completing enrollment in both the topical and oral arms of our Phase 1 Endoxifen study. We look forward to announcing preliminary top-line results from the topical arm of our endoxifen study later this quarter." This is a major break through for the health firm. Due to this positive development, ATOS stock has seen a big uptick by its standards, but the upside may be limited. The RSI measure of the stock suggests it is in overbought zone. The present RSI measure of Atossa Genetics stock is above the generally used overbought threshold measure of 70, coming in at 70.83. The share price has also breached the upper Bollinger Band, suggesting that the stock is overbought. The upside from here could be limited for ATOS stock. Further, the stock has a stiff resistance at the 50-day SMA which it has to break out, to see any big uptick.
ATOS Technical chart

Looking for fundamentally better tech stocks? Check out Amigobulls' top stock picks from the tech sector, which have beaten the NASDAQ by over 140%. Interested in automotive stocks? Then, we also have our top picks from the auto sector, which have beaten the S&P 500 by a massive 234%.

Sreekanth Anasa Sreekanth Anasa   on Amigobulls :

Neither Amigobulls, nor any members of its staff hold positions in any of the stocks discussed in this post. The author may not be a certified/registered investment advisor, and the opinions expressed should not be treated as investment advice.

Buying and selling of securities carries the risk of monetary losses.Readers/Viewers are advised to carry out their own due diligence and consult their investment advisors before making any investment decisions.

Neither Amigobulls, nor the author have any business relationship with any of the companies covered in this post.

show more

Comments on this article and GILD stock

Do share this awesome post