The that has developed on the chart below is called, a "bearish candle" and it points to further weakness ahead. So how far can Gilead fall? The first meaningful level that I see is $84, as that is not only the break out area which lead to the recent run up to the all time high of $110.64. But there are also some key proprietary factors which should provide longs a 10% bounce at that level. So while this level may seem like it's far away, know this, the biotech sector can be extremely volatile and this level could be achieved easily in weeks, if not days. Keep a close eye on this chart as the trading action it presents will be fun and profitable!
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