LLY may break out of this rising range and go to new high, good to load up shares
You are welcome. Have you check out LGND yet? It looks really promising. A couple of weeks ago, there was a report that they will be receiving royalties because of one of their patented process was found to be very effective in extending the life of cancer patients. I thought you might be interested in pharmaceuticals. Cheers!
I think the cup was formed and the first target of $77 reached at the neckline. The subsequent correction for the handle is already formed as well and it has broken out just a week or two ago. The second target is $118. I am holding April 17 LGND $75 calls. The stock unfortunately is quite thinly traded and the spread between bid/ask for options can be quite high. I can't tell you if this is still a buy except to say that for much of the past week when the SPX was selling off, LGND kept going up.
Thanks! Do you do options? Much more risky than stocks. I was trying to tell you 2 days ago that if LLY closed above the trend line, then it is bullish again. That was exactly what happened yesterday. Today's surge is a bit manufactured by the FED. It could come down tomorrow after people read more into the FOMC statements.