Aggressive Setup for GILD

Gilead Sciences (GILD) has a couple of things working for it.

For starters, it has what I like to call an “echo” in its chart pattern.

That’s when the just completed move in price reflects very closely a previous move.

The 2nd thing that GILD has is a move down to my roadmap line – where it found support.

This confluence of 2 patterns provides a powerful setup.  With an aggressive entry being to buy GILD on a move up above $82.50 (above the recent resistance highs).  However, note that we have more resistance up in the zone below $86 so above $86 would be the more conservative entry point or a good point for an aggressive buyer at $82.50 to take profits.

The target is $92.50.

Whichever path you choose, wait for the move up because the whole setup gets to be invalid should the stock price dip below $76.

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Jeffry