Now shares are testing that $7.75 resistance level in today's session. A breakout above that price level signals this stock as a buy. When it happens, keep a tight stop in place.
Nearest Resistance: $11
Nearest Support: $9.50
Catalyst: T-Mobile Merger Drama
Nearest Support: $44
Catalyst: Patent Win Biopharmaceutical firm Gilead Sciences (GILD) is seeing continuation in trading today after a patent win against Idenix Pharmaceuticals (IDIX) gave the firm the upper hand in the early stages of a fight over a hepatitis C drug. The news has sent shares of GILD pushing through to new highs this week, a bullish condition in and of itself. >>5 Stocks Ready to Break Out Making new highs is significant from an investor psychology standpoint because it means that everyone who has bought shares in the last year is sitting on gains - as a result, the "back to even" mentality is less of a concern than it would be for a name with a higher proportion of shareholders sitting on losses. Investors who aren't too risk-averse may want to consider buying here. To see these stocks in action, check out the at Most-Active Stocks portfolio on Stockpickr. -- Written by Jonas Elmerraji in Baltimore.
Twitter and become a fan on Facebook.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV