Elliott Wave View: Gilead Sciences Bullish Cycle Heating Up
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Gilead Sciences (
GILD) is starting to show signs that it may be in the beginning stages of new bullish cycle from an elliot wave perspective. The Long term chart shows a completed bullish sequence in 5 waves for Blue (I) which topped on June 22/2015 at 123.37. From there a corrective sequence took place for Blue (II) which bottomed on Dec 26/2018 at 60.32. From there a new bullish cycle may be starting with an equal legs area of 183.78 to 260.01 for Blue ( III ).
On a 4h view, after setting a wave ((1)) top on Feb 1/2019 at 70.50 a lengthy wave ((2)) took place in the form of a double zig zag correction. Wave ((2)) bottomed on Oct 3/19 at 60.89 and from there some nesting has started. Blue wave (1) is set on Oct 24/19 at 66.75 and Blue (2) with an expanded flat correction is set on Jan 21/20 at 62.23. From there another 5 waves up has been set, for a nesting red 1-2 taking place. Price action suggests a wave 3 break out is imminent.
The Corona Virus (COVID-19) has brought a lot of attention to Gilead recently but the Elliott Wave analysis suggests that Gilead Sciences had a bullish setup before the virus surfaced. The momentum from the virus may be but one small element that helps push Gild to new all time highs, and eventually the 183.78 to 260.01 area for Blue ( III ).
GILD) is starting to show signs that it may be in the beginning stages of new bullish cycle from an elliot wave perspective. The Long term chart shows a completed bullish sequence in 5 waves for Blue (I) which topped on June 22/2015 at 123.37. From there a corrective sequence took place for Blue (II) which bottomed on Dec 26/2018 at 60.32. From there a new bullish cycle may be starting with an equal legs area of 183.78 to 260.01 for Blue ( III ).On a 4h view, after setting a wave ((1)) top on Feb 1/2019 at 70.50 a lengthy wave ((2)) took place in the form of a double zig zag correction. Wave ((2)) bottomed on Oct 3/19 at 60.89 and from there some nesting has started. Blue wave (1) is set on Oct 24/19 at 66.75 and Blue (2) with an expanded flat correction is set on Jan 21/20 at 62.23. From there another 5 waves up has been set, for a nesting red 1-2 taking place. Price action suggests a wave 3 break out is imminent.
The Corona Virus (COVID-19) has brought a lot of attention to Gilead recently but the Elliott Wave analysis suggests that Gilead Sciences had a bullish setup before the virus surfaced. The momentum from the virus may be but one small element that helps push Gild to new all time highs, and eventually the 183.78 to 260.01 area for Blue ( III ).
注释
Here's the monthly view. Feel free to check out Elliott Wave Forecast online for more analysis.
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