Gilead Sciences $GILD entered 2017 bearish, but was able to find support around $63.85 by mid-year. It has since been in consolidation mode. GILD Weekly Chart(click to enlarge)Bearish Correction:- As we can see on the weekly chart, price action was bullish going into 2015. But by 2016, shares started to slide. - The slide however, looks more like a correction compared to the prevailing uptrend from 2010 through 2015. - Even though the context might be consolidation instead of a bearish trend, there is still bearish bias in the short to medium-term.- The fact that the rebound in 2017 failed to limb above $87, and respected the 200-week simple moving average (SMA) as resistance suggests bears are in charge. In fact, we had 2 failed attempts. The second one showed a false breakout. This again suggests bears are still in charge.Failed Rebound:- In the past few months, price has been climbing up from around $64, which was near the previous important support. - However, the rebound seems to have resistance around $80. Within this range, failure to climb back to the $86-$87 area suggests the bearish mode might be in play again. - Price action on the daily chart also suggests bears are in charge. Particularly, the topping price action followed by respect of the top as resistance, shows bearish domination at the moment. - A break below $72 would further confirm the bearish outlook. This time, if price comes down to $64, I would not trust support at this point. GILD Daily Chart(click to enlarge)