Energy Alert: Institutional Selling Triggers Reversal, Buy T
Not many investors would argue that Gilead Sciences, Inc. (NASDAQ:GILD) has been beaten down over the last two years. After all, in 2015 the stock traded as high as $123.00, but now trades at $72.00. Most investors are fearful of bottom fishing but I have made millions off of it. The key is being patient and letting the stock chart tell YOU when to buy. Too many investors force their personal views on a stock and the stock just takes all their money. In the case of Gilead Sciences, the stock may be starting to alert us to a buying opportunity. Notice on the stock chart how Gilead had a big pop starting in early November, the first big one in a long time and has since slowly settled back down, falling towards the lows. The key for me to buy is seeing if the previous low can hold. In other words, I do not want to see this slow grind lower take out the $71 level,making a higher low. If it can hold and the stock starts to inch up, I am a strong buyer. Pay attention, these types of trades can make you a lot of money.