As you surely know, they don’t all work this way. But trading GILD has been like clockwork for me since buying the lows in June. Buy the washout and positive divergence, sell the hysterical pop; buy the downside reaction, sell the pop; buy the next downside reaction… still holding as of this moment.
The weekly chart seems to think that 84 is a reasonable target, assuming that the stock market stays stable through our projected late Aug./1st half of Sept. quiet period (as da boyz settles back in).
I’d noted in NFTRH that GILD was bought back despite a view that the Biotech iShares could settle to major support at 290-295. But we had also noted previously that those bullish on Bio would be positioning on the recent test of support around 300.
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