NEW BULLISH Plays
Gilead Sciences - GILD - close: 41.40 change: +0.57
Stop Loss: 39.85
Current Gain/Loss: unopened
Entry on February 14 at $--.--
Listed on February 13, 2013
Time Frame: 4 to 8 weeks
Average Daily Volume = 8.0 million
New Positions: Yes, see below
Why We Like It:
GILD is a biotech stock that's hitting new all-time highs. The company reported earnings in early February. GILD beat Wall Street's estimates on both the top and bottom line. Yet management issued cautious 2013 guidance. Fortunately for GILD shareholders the guidance didn't seem to derail the rally. The stock did get a little choppy there for a few days around the $40.00 level. Yet following the earnings report GILD garnered two new price upgrades from analysts. Now the stock has closed at a new record high.
I am suggesting new positions at the open tomorrow. Biotech stocks can be volatile so I would keep our position size small. Our multi-week target is $44.85. More aggressive traders could aim higher.
FYI: The Point & Figure chart for GILD is bullish with a $47.50 target.
Suggested Position: buy GILD stock @ (the open)