Sagar
May Gilead have some medicine for the coronavirus? If so, that may also boost the stock.

$GILD.

In any case, (1) it is breaking above the daily Memory trendline resistance and giving a Go With Flow trend-following long setup.

2) The stock is undervalued.

3) The biotech industry is neutral, neither strongly bullish (relative to others) nor bearish.

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Sagar
1) Yes. I did announce on Fri that I bought GILD, despite the market dropping heavily. I shared it in the forum. I posted it on twitter. And I discussed it at length in the weekend market roundup video.

How did it work out?

2) My stop was using the CUE Protection signal.

3) Today as of ~10:10 AM EST, the stock has covered risk distance, and you might book partial profit. I have closed half of my position with a good profit already (I had taken a synthetic long position using options: long a call and short a put at the same strike).

That is the confidence with which you can trade if you have a robust system that you believe (and always manage risk and money withe discipline). Not to say that any trade's result is known beforehand. But over a number of trades, it should work out if you know what you are doing.

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Sagar
Why I book at least partial profit quickly once the risk-distance is covered?

I booked a profit in the $GILD long trade the very next day after entry. Why does that approach help?

1) I suggested the buy on 21st Feb.

2) Very next trading day, 24th Feb, it covered the risk-distance, and I booked partial profit.

3) Afterward, on 27th Feb it went higher but reversed on that day.

4) Today, 28th Feb, price opened with a gap-down.

Not booking profit when would be psychologically tormenting, as the trade had a good profit and it eroded later.

What now? It has found support at the daily Memory trendline. And weekly Backdrop (not shown) is bullish. You may see if it gives a trend-following Go WIth Flow long setup in the coming days.

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