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BioPharma And BioTech, FTW!

ByDragonfly Capital
AuthorGregory W. Harmon
Published 03/27/2013, 01:47 AM
Updated 05/14/2017, 06:45 AM
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Two stocks that are ready to take off are active in the fields of BioPharma and BioTech, and just missed being on our Top Trades list for the week, Illumina, (ILMN), and Gilead Sciences, (GILD). Take a look.

Gilead Sciences, (GILD)
GILD

Gilead Sciences, (GILD), has been a steady rising trend for over a year. Each pullback has found support at the 100 day Simple moving Average (SMA) and if you were waiting for that to happen again it looks like you will not get it. The 50 day SMA turned it back higher this time. A shallower dip. Now back at resistance at 46.50, a move higher through it is the entry.

The Relative Strength Index (RSI) is bullish and turning back higher and the Moving Average Convergence Divergence indicator (MACD) is leveling on the signal line after a pullback while the histogram is improving.

Illumina, (ILMN)
ILMN
Illumina, has been consolidating in a sideways channel with a top at 54. A failed breakout in December turned into an Island Reversal, otherwise it has been sideways. This latest move to resistance comes after a pullback to the cross of the 50, 100 and 200 SMA and with the RSI running higher and the MACD starting to movie up after a stay at flat. The Measured Move on the break of 54 and continuation higher takes it to 57.50.

Disclosure: The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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