On June 20, 2017, I became bullish on KITE stock when it broke above a very key and significant level of price resistance. The following Kite Pharma stock chart illustrates the technical price pattern that was responsible for generating my bullish view on this investment. For those interested, that publication was titled " All Eyes on Kite Pharma Stock as It Breaks Out" and it was published on June 22, 2017, when Kite Pharma was trading at $92.59. This completed pattern was the focus of the publication that followed up on my original report. This potential suggestion came to fruition on June 20, 2017, when KITE stock completed the technical price pattern. I originally highlighted Kite Pharma on in a publication where I outlined a technical price pattern that was in development and potentially suggesting that a large move was in the making. Technical analysis is based on the notion that historical price and volume data can be used to speculate on what the future may bring. As a result, I spend much of my time scouring stock charts looking for compelling price patterns and indications. This method of analysis is called technical analysis, and I have been studying and applying it for nearly 20 years. This type of performance is a testament to the method of analysis I use to generate my views on a potential investment. What makes this performance number even more impressive is that these returns manifested over a 10-week time span. This buyout price represents a 94.4% return from the price point where my original bullish view was initiated. (NASDAQ: GILD) and Kite Pharma Inc (NASDAQ: KITE), where Gilead agreed to acquire the stock at $180.00 per share, which values the deal at $11.9 billion. The catalyst driving the gains was a definitive agreement between Gilead Sciences, Inc. Just yesterday alone, KITE stock was trading higher by 28.48%. Well, it didn't really take long for my bullish view on Kite Pharma stock to get vindicated. That view has has appreciated to the tune of 94.40% over that time frame. 07:42:59 kite pharma inc NASDAQ:KITE KITE stock kite pharma stock KITE stock price kite pharma stock chart KITE price chart pharma stock 10 weeks ago, I outlined indications on the Kite Pharma stock (NASDAQ:KITE) chart that warranted a bullish view. Food and Drug Administration, and the FDA’s target action date is November 29, with European approval set for next year.10 Weeks Later, Kite Pharma Stock Is Up 94.40% The Axi-cel treatment is currently under review by the U.S. The company expects axi-cel to be approved as a treatment to fight aggressive non-Hodgkin lymphoma. Kite’s biggest, most advanced offering is a CAR T therapy called axicabtagene ciloleucel, or axi-cel. We are greatly impressed with the Kite team and what they have accomplished, and share their belief that cell therapy will be the cornerstone of treating cancer.” “The field of cell therapy has advanced very quickly, to the point where the science and technology have opened a clear path toward a potential cure for patients. “The acquisition of Kite establishes Gilead as a leader in cellular therapy and provides a foundation from which to drive continued innovation for people with advanced cancers,” Gilead President and CEO John F. However, the Kite acquisition won’t become neutral in terms of earnings until the third year of the deal, according to Gilead. Gilead made it clear in its official announcement that the Kite purchase is designed to diversify its drug offerings. Shares of Kite reached a new all-time high on Monday, and the company’s shares have already traded hands more than eight times its average volume. Kite and Gilead’s board of directors both unanimously approved the deal, which will reportedly close in the fourth quarter. Gilead’s $180 a share purchase marks a 29% premium from Kite’s Friday close. Gilead is set to pay roughly $11.9 billion in an all-cash deal to acquire Kite and its innovative cancer drug, which aims to make the patient's own immune cells fight-off cancerous tumors. Shares of cancer treatment drug maker Kite Pharma KITE soared on Monday morning after Gilead Sciences GILD officially announced it would purchase the company for a substantial premium.
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