Gilead Sciences (GILD): First Take Profit in a High Range

il y a 5 jours

Gilead Sciences is now back trading at the high end of its range, and we’ve decided to take our first profit here. It’s crucial to respect range-bound trading, and there is a strong possibility of a pullback at this point. However, we don’t expect this pullback to reach the lower end of the range again but rather settle in the middle. If GILD reclaims this range high, it could provide even more upside and new opportunities.

We are also raising our stop loss to $65.80 to lock in gains. Gilead serves as our "natural hedge" against broader risk-on market conditions, and with a 40% bounce from the range low at the same time the S&P 500 is hitting new all-time highs, it’s clear that Gilead can benefit as well.

We’re keeping a close eye on this stock, and if another opportunity arises, we’ll be ready to act.