Gilead activated a double bottom pattern with target at $104.6, +84% from current price. This structure would be inactivated below $55.80 so the stop loss would be around that zone. The risk/reward ratio is 45.
i appreciate the optimistic analysis, and i'm long GILD - but every time i look at the chart i get the sense the stock is being "pushed down" -- there are a lot more bearish signals than bullish ones.
i'm trying to find a chance to get rid of that position with minimum loss -- i don't want to keep giving myself false hope any more..
good luck to you
@RedKTrader Hi, yes I agree. It seems that is being pushed down... but for me stop loss is less than 2% away so if I have to sell I will sell... but double bottom and falling wedge are still active. Good luck!
@stephane_Salgados, it's the same with me. This value right now is weak but the stop loss is very close. If price goes below $55.80 would activate a second bearish impulse and my stop loss would be in that zone. On the other hand bullish structures are still activated and I see a big opportunity there.