Gilead Should Bounce From These Oversold Levels

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Gilead (NYSE:GILD) really broke down after its 2nd quarter earnings. This stock cant go much lower in my view despite its obvious problems in HCV. Furthermore the biotech sector continues to go from strength to strength. I cannot see Gilead stock continuing to trade down with the biotech sector going the other way. Furthermore I believe the company’s HCV sales will eventually settle down. Despite its problems, it is still the strongest player in the HCV space at present. Risk/reward definitely to the upside here.

 

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