Friday, July 26, 2013

The blow off top in Gilead Sciences

GILD has a top with what I call an overshoot. It backs down before making a final (presumably) attempt higher.

The overshoots upper bound should be limited by the trendline from the blow off top:

Yesterday it touched that trendline and bounced back.

This is a good level to enter or add on to a short position.

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