dingying85
Long

LLY could break out

NYSE:LLY   ELI LILLY AND COMPANY
62 16 1
LLY             may break out of this rising range and go to new high, good to load up shares
Breakout today due to positive news about diabetes drug.
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dingying85 Will Wong
yes, that is cool
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April 17 LLY $80 calls got sold during the SM surge after the FOMC dovish comments at 200% gain. :)
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dingying85 Will Wong
congrat!! wish i had bought it. Do you have any suggestions?
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Will Wong dingying85
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.
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LLY showed a fake breakdown and is retesting the trendline now.
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dingying85 Will Wong
thanks for the comment. Yes, it break down the channel, i got stopped out
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Will Wong dingying85
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!
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dingying85 Will Wong
LGND looking good and broke out already. Do you think it is still a buy? looks like RSI overbought.
Thanks for the pick:)
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Will Wong dingying85
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.
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