3 Hot Biotech Coronavirus Stocks Breaking Out Now

 

A massive amount of technical damage has been done to top leading stock charts lately, eliminating most low-risk buying opportunities. But today, we’re telling you about three hot biotech stocks breaking out to new highs–while also fighting against COVID-19. 

Today, we are excited to show you the technical trade setups of three strong stocks currently ignoring the market and breaking out sharply higher–even as the major indices are falling!

All three stocks also happen to be the best players in the current, real-life battle against coronavirus/COVID-19.

Continue reading to discover how to profit from investing or trading these bullish coronavirus-fighting stocks–and feel good about the cause while doing so. 

Gilead Sciences ($GILD)
Promising COVID-19 Treatment

Three-day performance:
NASDAQ 100:  -9.6% loss
$GILD:  +12.3% gain

Outperforming the NASDAQ 100 by more than 20% over the past three days, Gilead ($GILD) is an American biotech company with 22 billion per year in sales. 

Their experimental drug named remdesivir showed promising results in the recovery of 14 Americans hospitalized in Japan for the treatment of COVID-19. Remdesivir also started Phase III trials three weeks ago and may currently be our best hope against fighting coronavirus. 

The Technical Trade Setup

Initial stock reaction to this news was volatile and non-committal, but sentiment has sharply improved in recent days. 

Now, a bullish monthly chart has positioned $GILD for a convincing breakout to new 52-week highs.

On the monthly chart below, notice how $GILD has sharply broken out above a long-term downtrend line that was in place since the highs of 2015:

$GILD WEEKLY

On the chart above, notice that volume has also surged to roughly double the average daily levels, hinting at stealth institutional accumulation by the “smart money.”

Zooming in to the shorter-term hourly $GILD chart (below), notice the bullish double bottom pattern, which looks like a “W.”

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Disclaimer: Past results are not necessarily indicative of future results. There is a high degree of risk for substantial losses in trading securities. All data and material on this website and/or ...

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