Gilead Sciences Is Going Higher Yet

by Sam Collins | August 9, 2013 4:15 am

I first recommended Gilead Sciences (GILD[1]) back on Nov. 19[2], 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.

0809 gild buy on pullback 300x188 Gilead Sciences Is Going Higher Yet
Click to Enlarge

chart key Gilead Sciences Is Going Higher Yet[3]

Endnotes:
  1. GILD: http://studio-5.financialcontent.com/investplace/quote?Symbol=GILD
  2. Nov. 19: http://investorplace.com/2012/11/trade-of-the-day-gilead-sciences-nasdaq-gild/
  3. [Image]: http://investorplace.com/wp-content/uploads/2013/05/chart-key.gif

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