GILD crossed a key level to end 2023, and could be set up for more gains in 2024
Every day for the next three weeks, we’re going to highlight one of Schaeffer’s top 12 picks for 2024. For today, we have pharma stock Gilead Sciences, Inc. (NASDAQ:GILD). To access the entirety of the 2024 report, click here.
The shares of pharma giant Gilead Sciences (GILD) broke out of a major basing pattern back in late 2022, which had begun forming in 2017. The equity also crossed above the round-number $100 billion market cap in December, following a year-long pullback to the rising 20-month moving average. This moving average is at the site of the stock’ s 2020 peak, too.
With all this potential in place, GILD could make a move back up to it’s 2015 highs within the coming calendar year. Even further, analyst sentiment could be improved upon, considering nine of the 19 covering brokerage firms still sport a tepid ” hold” recommendation.
Image and article originally from www.schaeffersresearch.com. Read the original article here.