Gilead Sciences (GILD): Will Support Hold or Will We See a Drop?We've neglected Gilead Sciences for a while, but it's time for an update. Unfortunately, our entry looking back wasn't ideal, as the stock has fallen below the 61.8% retracement level. It found support just below the 78.6% level, which marks the bottom of our range. This level was precisely touched, and we saw a relatively good movement upward from there.
However, the outlook remains uncertain. We hope that the stock does not fall below this range bottom, as it would prompt us to consider cutting it. Our first take-profit target is at the range high around $86.5, but reaching this level will take time as Gilead Sciences is currently underperforming.
Unlike most other stocks, Gilead Sciences operates in the research sector, not the tech sector. This means it follows a different cycle and is influenced by different capital flows. It tends to perform well when tech stocks do poorly. If tech stocks remain bullish, Gilead Science might continue to struggle. However, if there's a shift, Gilead Science could reverse and potentially reach up to $123, though this is quite far off.
We are holding our position for now, hoping not to cut if the stock falls out of the range. If it does, we will take necessary action.
Gileadsciences
GILD potential Buy setupReasons for bullish bias:
- Safe entry at LH breakout
- Price bounce from support
- Bullish divergence
- Positive Earnings
Here are the recommended trading levels:
Entry Level(Buy stop): 68.59
Stop Loss Level: 64.05
Take Profit Level 1: 71.98
Take Profit Level 2: 84.79
Take Profit Level 3: Open
GILD Gilead Sciences Options Ahead of EarningsIf you haven`t bought GILD before the previous earnings:
Then analyzing the options chain and the chart patterns of GILD Gilead Sciences prior to the earnings report this week,
I would consider purchasing the 80usd strike price Calls with
an expiration date of 2024-6-21,
for a premium of approximately $3.10.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
GILD Gilead Sciences Options Ahead of EarningsIf you haven`t bought GILD on the Remdesivir approval:
Then analyzing the options chain and the chart patterns of GILD Gilead Sciences prior to the earnings report this week,
I would consider purchasing the 80usd strike price in the money Calls with
an expiration date of 2024-1-19,
for a premium of approximately $4.25.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
GILD Gilead upside potentialReuters
Adage Capital Partners GP LLC Dissolves Share Stake In Moderna, Takes In Gilead Sciences!
Reuters:
Germany requests 5% of EU supply of remdesivir
Germany has requested around 5% of the supply of remdesivir under a six-month European Union supply deal, its health ministry said on Monday, despite criticism of the deal due to a lack of evidence about the antiviral drug's effectiveness in treating COVID-19.
A course of treatment for COVID-19 requires six doses and costs 2,070 euros ($2,407) per treatment, under the terms of the deal.
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