GILD – Gilead Sciences

This is a 1 year daily candlestick chart for Gilead Sciences (GILD) that shows an uptrend that is intact. It has 3 different Fibonacci Extension Tools overlaid on it to help calculate overhead price objectives.

Use any pullback towards the $76 price level as an opportunity to make a scale-in purchase of shares. The short-term price target after any pullback to the $76-$77 price level would be $83-$84, or an approximate 10% gain. That is the short-term move which I see as part of a larger move upwards. However there may be a brief consolidation period after the $84 price level is reached. This shorter-term move is represented by the blue Fibonacci Extension Tool.

The longer-term move that appears to be developing is represented by the black Fibonacci Extension Tool. The 100% Target Line from the black Fibonacci Extension Tool is the first price objective goal of the uptrend with a high probability that the stock will reach its Golden Ratio, or the 161.8% Target Line from the black Fibonacci Extension Tool. Being somewhat conservative, this longer-term price objective appears about 9 months down the road. I think it could get there quicker.