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Stocks to Trade Now: 12 Momentum Trades

OptionsZone Experts, May 1, 2009 Free Trading Guides

Momentum Stock #2: Gilead Sciences

By Sam Collins

This biopharmaceutical company engages in the discovery, development and commercialization of therapeutics for the treatment of life-threatening infectious diseases. The swine flu scare will no doubt have a positive impact on Gilead Sciences (GILD), since it could be a major manufacturer of any serum produced to combat the new strain.

GILD is trading in a huge triangle, which, if penetrated on the upside, could yield an above average return. A break above the 200-day moving average at $48 could lead to a challenge of the bearish resistance line at $52, and lead to new high with a target of about $75.

See four Top Swine Flu Stocks that have also seen momentum due to the pandemic flu scare.

Next: Momentum Stock #3

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