$GILD Finally Breaks Out After A Long Period Of Consolidation
GILD has been stuck in the $63 to $70 range for over a year. After yesterday's significant breakout, look for GILD to keep climbing. Contributing to yesterday's breakout was the news that a World Health Organization official comments that the company's experimental drug may be the best candidate to treat the new coronavirus that's spreading globally.Gilead's remdesivir is the “one drug right now that we think may have efficacy,” Bruce Aylward, an assistant director-general at the World Health Organization, said at a briefing in Beijing.
The compound has been advanced to clinical trial in China. WHO said results may be available within weeks.
GILD looks to be a smart play in the current environment.As always, trade with caution and use protective stops.
Good luck to all!
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