shomikghosh2
Long

GILD Another Bounce Play In the Making

NASDAQ:GILD   GILEAD SCIENCES INC
171 2 1
Disclosure: Long Shares @ 68.09

On Friday, Mar 28th, I bought shares of GILD right at the 200-ma for a bounce play, this is one of the strongest biotech stocks and should continue to hold in an uptrend for at least a little while as its hit drug is tracking huge numbers in the market and the pipeline is strong, I think a buy here for a couple dollars bounce could definitely be playable as the RSI is oversold, and the 200 MA is being defended strongly
I sold at 74 levels and booked profits at 68 (long term ma). The risk for me is that gild should make a higher high and i'll buy on a dip. Currently charts are painting a bit bearish. Peak, low, lower high and then a low.
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shomikghosh2 justatrader
Definitely agree. This is only a bounce play for me for a couple percentage points. The RSI is oversold, outside lower bollinger band, and 200 ma should provide support from defenders trying to protect longer term uptrend
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