Trade Plan for Gilead Sciences.
Will look to enter at bottom of uptrend channel (75.3) , Stop Loss once uptrend broken (74).
Target Price at 86. Potential Price at 96. Personally will take profit at resistances as insurance.
Upside for Gilead:
1a) Possible treatment for Covid-19 (Remdesivir)
1b) Possible 2nd wave of virus
2) Possible FDA approval of Arthritis...
Stock seem to be moving along the trend line as shown. Resistance level currently strong at 9,750, with next resistance at 9,850. Should the trend line be broken, expected drop to next support at 9450. Overall still a long to hit targeted 10,000
Beginner analysis here, take with pinch of salt. Do share your ideas so I can improve as well.
