Gilead Sciences Nears Key Buy Level

By Gareth Soloway of In the Money Stocks

President & Chief Market Strategist at IntheMoneyStocks • Jan 28, 2021 at 1:48 PM EST

The buy level is a technical gap fill at $63.25. From this level, investors can expect another strong move higher to a potential high of $85.00.

Shares of Gilead Sciences (GILD) is pulling back after its recent surge. Since January, Gilead Sciences surged from below $57 to above $68. This massive upswing was off of multi-year lows as investors started to flood back to quality biotech names. With the stock currently pulling back, it is creating a key buy level. The pull back is known as bullish consolidation and likely will setup for the next big move higher. The buy level is a technical gap fill at $63.25. From this level, investors can expect another strong move higher to a potential high of $85.00.

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