Alright GILD investors and followers..
Look back on the 1D chart to July 20th. You see that tiny little blip at $66.60? Now I'm big on gap discipline, but what the heck was that? Who knows? Regardless, that is the LAST gap to the downside until we get back to 2013. While it theoretically could start going after some of those lower gaps that were formed at the beginning of this huge bull market, I think we have higher to go first.
My guess is it takes out $66.60, finds a bottom, then booms up to $86 where we have been feeling strongly it is heading. Timeline? Who knows? This thing isn't following the most clear path. And honestly, I actually think any move up we've seen has been feeling corrective instead of impulsive. We could very well be in a long term correction to the upside in an even longer term down trend. Hard to tell. But there hasn't been a lot of clearly measurable impulsive waves up since ATH.