Jakeccc

$GILD warmer, warmer, warmer.

NASDAQ:GILD   GILEAD SCIENCES INC
102 0 1
Price has memory, 100-106 area is particularly painful for anyone who got in this stock.

As you can see in the yellow box, Gilead spent a month in that range, many people wanted to play for a box/sym tri             breakout and ride the "year-end beta chase/Santa Rally" (whatever the fvck that is, some kind of "conventional wisdom" CNBC had planted in newbie traders' brain I guess)

Anyway, I'd expect an increase of selling pressure as $GILD approach 103-106, a confluence of MA and trendlines . And believe it or not, it's made a series of lower highs and lower lows, I know this pattern has lost its relevance in this bull market, but believe me, it's important.

You can sell the FEB 105/110 call spread for roughly $1.7( or wait till it gets to 105-106 and sell the 110/115 for $1.7, just by eyeballing), or just wait a while for confirmation, let the price show you where it wants to go.

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