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Gilead Sciences Is Going Higher Yet

Protect profits, but buy on pullbacks

   

I first recommended Gilead Sciences (GILD) back on Nov. 19, when the stock was trading at $37.50 after a gap higher. That move established a bull trend that only recently has been subject to profit-taking.

GILD is up 60% from our initial buy-point. Investors who bought in November should protect their positions by writing calls or buying puts. Any weakness in the stock that results in a pullback to its 50-day moving average — around $55 — should be used to buy new shares. My long-term target for Gilead is $70.

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Article printed from InvestorPlace Media, http://investorplace.com/2013/08/gilead-is-going-higher-yet/.

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