NFTRH+; This ‘Value’ Giant Could be a Good Tax Loss Seasonal Play

It’s none other than Biotech giant GILD, which I have held for a few weeks now for non-chart reasons, maybe (repeat maybe) making a move off the bottom.

Today it is working on breaking above the SMA 50, something it has not been able to do since the COVID-hype stink wore off of it last summer. This may be nothing, or it could be something. The SMA 50 will tell. Anyone interested might want to keep an eye on that because it if can hold the current level it’s got a shot at a post-tax loss seasonal rally. It’s also a stock that balances ‘value’ (code for slow growth) and healthcare presence into a portfolio.

gild

The monthly chart provides a handy tolerance point at 57 below which to call it a failed trade. As for an upside target, I’d look for the SMA 200 above, currently 69.50 and starting to slope down. Also, visual resistance starts coming in at 71. That upside represents about 15%, which for an old ‘value’ dinosaur like GILD is probably reasonable.

A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the technical parameters are already noted. These updates are meant as a starting point for your further research if interested. I will not personally buy every item highlighted and will sometimes sell (ref. Trade Log) any item that I do buy below target (assuming I’ve not stopped out or sold for some other reason) as I often do. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.