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3 Healthcare Stocks That Look Ripe to Rally

Technically sound patterns are spelling opportunity

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Healthcare Stocks That Could Rally: Gilead Sciences (GILD)

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Biotechnology firm Gilead Sciences (GILD) has enjoyed a nice rally since 2012. However, while the slope is steep through a multiyear lens, it continues to work higher in an orderly fashion on the daily charts.

On the accompanying daily chart, note that GILD stock has for the most part held its 50-day moving average (yellow), most recently on Feb. 7. From November to mid-January, GILD stock built a nice base from which it eventually broke out; since then, it has led to a next base to be built.

Biotech stocks as an industry have seen good rallies in recent weeks, and GILD stock has been lagging its peers. Gilead is now coiling up below immediate-term resistance near $83 — if it can push through that, it could regain upside momentum toward the high $80s.

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