Gilead coronavirus drug suggests

Gilead Sciences, Inc., a research-based biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical needs in the United States, Europe, and internationally. The company’s products include Biktarvy, Descovy, Odefsey, Genvoya, Stribild, Complera/Eviplera, Atripla, and Truvada for the treatment of human immunodeficiency virus (HIV) infection.

GILD COVID-19 suggests

Gilead Sciences (NASDAQ: GILD) has been moving fast for the last couple of months rallying from the $66 per share price area eliminating a lot of price action to the left as can be seen in Gilead Sciences (NASDAQ: GILD) biotechnology monthly timeframe below. Global market pharmaceutical related stocks are also rallying strongly on treatment hopes. We do not base our trades on fundamental analysis because it adds more layers of complexity to the already difficult trading decision process. Most of the time, these imbalances are respected and any news or earnings reports and magically react to them out of the blue.

Gilead price action analysis

There is a clear long bias on Gilead Sciences (NASDAQ: GILD), we need the retracement though. We have a monthly supply in control around $78, expecting price to drop further as can be seen in Gilead forecast monthly timeframe technical analysis below (see the arrow).

Gilead Sciences stock forecast

Gilead Sciences fundamental analysis

You still want to learn more about Gilead Sciences (NASDAQ: GILD) fundamental analysis, read below what they are saying about this biotech company.

Optimism in equity markets was driven by positive partial results from a trial of Gilead’s antiviral remdesivir, which showed the drug could help speed recovery from COVID-19, the respiratory disease caused by the new coronavirus.

We know there is a bullish bias, we don’t need that kind of news in order to make a trading decision based on supply and demand imbalances.

Gilead Sciences supply and demand video technical analysis

Gilead Sciences price action analysis

This is the kind of price action technical analysis you will learn in our trading community. You will learn how to locate new supply and demand imbalances and trade without using any indicators, no news, no fundamental analysis, no earnings announcements, no volume or VSA analysis. Just supply and demand imbalances.

Trading supply and demand imbalances is ideal for beginners and those with a full or half time job, you won’t need to stay in front of the computer all day long trying to move price action with your mind. 

GILD supply and demand imbalances

As supply and demand traders, we do not need to pay attention to the news, fundamentals or any earnings reports. Once a big timeframe imbalance has gained control, earnings do just the opposite and react strongly to those imbalances. Why is it that you see positive earnings and then the underlying stock drops like a rock, or a negative earnings announcement and the stock rallies like a rocket out of control? You are probably missing the fact that there are big imbalances gaining control.

Unless you are doing very short term trading and scalping, you should not worry about fundamentals or earnings announcements on Gilead Sciences biotech stock.

You can use these imbalances to plan your trades in lower timeframes. Trading is just waiting for the right trigger points and scenarios to present themselves, this game has got a name and it’s called the waiting game. We need to patiently wait for the correct scenarios and setups to happen and wait for the price to pull back or dip into the price levels we want to trade, in our case these price levels are made of supply and demand imbalances.

If you want to learn how to trade stocks using our supply and demand trading strategy, join our supply and demand trading course.

There are several ways of buying stocks and futures. When trading stocks, you can buy shares of the underlying stock or use options strategies to go long or short at these specific supply and demand levels, long calls or long puts or spreads. You can even buy a CFD (contracts for difference) on Gilead Sciences biotech stock if you are in a country where it’s allowed.

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