There is something important going on with Gilead Sciences, Inc. (NASDAQ:GILD). It is likely telling investors the downtrend is nearing an end and significant upside is on the horizon. Based on what I will explain to all investors, I will be buying Gilead Sciences at $65.75...
The basis for my thesis comes from the way the stock has acted over the last two months. Since early February 2017, Gilead Sciences jumped from multi-year lows, surging 10% in one week. Over the last 7 weeks, the stock has every-so-slowly inched back down. This is a major change in character from a stock that usually collapsed sharply in a week and took 7 weeks to inch back up before its next collapse. In other words, the price action is showing institutional (big money) accumulation. In addition, the valuation is very attractive. Analysts continue to strongly believe Gilead Sciences needs to buy some drug companies and I believe the company has heard them. I am sure acquisitions will be on the horizon as Gilead Sciences is sitting on a huge pile of cash.
