A good time to review the previous floor at 60.xx that we have been tracking for almost a year in GILD. Here taking the latest misses in Q4 Earnings with a pinch of salt as the red carpet has been rolled out for Gild via China. Once again another buying opportunity given the latest progress around Phase III clinical trials:
On the Remdesivir (GS-5734) side, this is their free pass into the Chinese Healthcare system. Models will need to start quickly repricing revenue from the Hep B cases in China. GILD will do the heavy lifting here, +/- $20 upside available on the headline for FDA approval which looks around the corner. Flow-wise, the initial target area from the latest technical break comes into play at 86.xx (+25% from current levels).
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