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No financial advice !!!!!!!
Potential Gilead Trade Gilead surpassed its previous all-time high (ATH) in January of this year; the price has now revisited that zone and shown a bullish reaction at the orange line. The trading volume from yesterday also speaks for itself. Anyone willing to enter a longer-term swing trade will likely be rewarded with a good return.
Idea:
Stop-loss (SL) at $120
Take-profit (TP) at $150–$155
If desired, you can trail the stop-loss or sell in tranches at resistance levels.
From a technical analysis perspective, retests following a new ATH offer an attractive entry point. This strategy falls outside my usual RSI/volume-based approach, but the setup looks too good to pass up, so I’m going to take the trade. I’ll be risking more than my usual 1–2% of capital here, given the risk-reward ratio of 3.6 and the fact that the stop-loss is close by. I plan to risk 5% of my trading capital on this one.
Not investment advice. Always do your own research and never enter a trade based solely on internet posts like this!!
I’d still love to hear your thoughts, though :-)
The text was translated with google translator from german to english