GIS trade ideas
GILD breakout and potential gap fillBuy any pullback near the $85 breakout. SL at $83.3, profit target near $94.
GILDThe price is being stopped at resistance. I have been out waiting for clear directions from price action.
SHORTFree fall up to 75,35 possible. I will not short. I do not short stocks - too risky for my trading style. I will wait for the dip and then buy.
I only short where inverse ETFs exist.
Possible Long PositionIf the signal bar ends positively with a good bull bar this can be a good entry
Long Opportunity in GileadA good 2nd divergence after a pullback and support line is good.
Cons is; there is a strong trendline on the top plus signal bar is not strong.
at 84usd a long position with 400 share 1000kchf risk.
GILD & RSI DIVERGENCEGILD has shown weakness recently. However on the weekly chart we can see a bullish RSI divergence developing with the price making a double / triple bottom formation. If the price can maintain above the $81.8 support line it may rebound in the next weeks. GILD is in my radar.
GILDI closed my long positions with some profit. To enter long again I will wait for the price to break above $88 or to approach $81.5
GILD: Time at mode longWe have a nice time at mode uptrend signal in GILD, right above a Key Earnings Support level.
Upside is significant, and downside risk very small, we can enter at market with stops under 86,31 and aim for targets above 91. Good luck if taking this trade!
Check out my updated track record here: pastebin.com
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Cheers!
Ivan Labrie
Link to Tim West's chatroom: www.tradingview.com
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance0.00%% on such information.
