Inverse head and shoulder pattern playing out on the monthly gold chart. Remember this is a monthly chart and it takes time to play out. Last time it happens gold rallied allot. If the upper support breaks we can expect a target of 2500.
Miners are really undervalued and are leveraged for enormous cash flow and profit if gold price rice.
The difference this time...
I dislike Pharma as much as I dislike manipulation but GILD bounced off .618 fib and I like it. Seems like a $65-70 stock trading at a discount.
Solid 4.8% DIV yield in addition.
Dont forget these folks also have anti Rona stuff so it could all come together.
I like this chart a lot actually. if we bounce off this crossroad, we will reach the moon eventually. Adding a little to my long position.
Have a terrific weekend!
Reuters
Adage Capital Partners GP LLC Dissolves Share Stake In Moderna, Takes In Gilead Sciences!
Reuters:
Germany requests 5% of EU supply of remdesivir
Germany has requested around 5% of the supply of remdesivir under a six-month European Union supply deal, its health ministry said on Monday, despite criticism of the deal due to a lack of evidence about the...
The chart explains it all.
the market keeps raising against all odds in the middle of this world pandemic, ignoring all data and indicators... Why shorting then?
Buy the bottom of the tunnel sell at mid range before it gets to the danger zone and bounce back again
key points;
- price at the bottom of the tunnel
- price riding the EMA 50
- good buying risk...
The GILD price fold into the inside pitchork channel on the long term. This signal a long term downtrend, which does not serve visionary long term investment.
However, for the intermediate term analysis. GILD price follow channel patter as is in the second channel. Despite the extraordinary selling volume, the price found a strong support at 75$.
GILD next TP...
Down to 60 / 47 up to 170 In the future.
Deepest pullback to 25 zone. Don't see it happening. This will be the first bounce off the red ribbon. Usually it is always quite strong once we touch it.
Good buy zones :
$42 - 50
Good sell zone:
$150 - 170
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,...
GILD seems to be forming a long term bottom, the presence of two falling wedges displays the possible repeating bullish nature of this chart. Green fractal indicates a long term target price of ~100. If downsides occur a stop loss is placed. MACD can be observed to be also rising. Volume is not always a great indicator of price movement but in a more mature market...
