Gilead Sciences - hit 2014-04-10 support level. I don't have a position in this stock, but I am waiting patiently to enter with a medium-long term strategy.
For the following reasons:
1. Appr. 50% reduction in price from all time high in USD$123 (june 2015) to USD$65 (feb 2017).
2. USD$65 is the previous support level from 2014-04-10.
3. The stock has gapped twice already 1# 2016-07-25 and 2# 2017-02-08.
4. Risk:Reward is 1:3.62
My strategy would be to enter USD$ 66-67, with a Stop-loss in $58 and first time target in $83 and wait for the possible retracement, and then pick up some more shares and next target in $97.
I am no professional investor or investment advisor, but is doing this solely for the sport.
Please comment if you disagree/agree.
