OptionsPlay DailyPlay

S&P 500 Market Outlook: Mildly Bullish

Bullish Trade: GILD $74.99 – Technology

The bullish DailyPlay for Thursday, April 9th Gilead Sciences (GILD). As part of the Healthcare sector (XLV), GILD has been steadily rising as the Healthcare sector is fighting COVID-19.

Fundamental View

  • GILD’s experimental treatment for COVID-19, remdesivir, has captured investor’s attention
  • GILD struck a strategic collaboration with Second Genome which aims to identify biomarkers for inflammation, fibrosis, and other diseases
  • Reports earnings on April 30, 2020 (22 days)

Technical View

  • GILD has been in a strong 1M and 6M bullish trend since the beginning of February
  • With support around $72, GILD has plenty of upwards growth potential
  • Strong relative strength score (10 out of 10)
 

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