GILD for a Long Play
Shares of GILD have recently broken out above resistance around $74 and have since successfully tested and held it as support (dashed green line) on two different occasions.
They look destined to at least test the falling trend line (red line), and I think there's a good chance we break through that resistance to establish a new trend higher.
I'm a buyer via calls, specifically the November $80 calls because they will carry me through the next earnings report. That's not to say I'll hold them through the release, but I suspect premiums will elevate leading in to the report and that should help bolster the bullish position.
They look destined to at least test the falling trend line (red line), and I think there's a good chance we break through that resistance to establish a new trend higher.
I'm a buyer via calls, specifically the November $80 calls because they will carry me through the next earnings report. That's not to say I'll hold them through the release, but I suspect premiums will elevate leading in to the report and that should help bolster the bullish position.
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