nicktussing77

LLY, LILLY IS THIS STOCK PRICE SILLY?

BATS:LLY   Eli Lilly and Company
I hope you appreciated my rhyme.
So what to say about this.
One main trend line at the moment.
Big support incoming at 580 to 560 range.
Really big support at 108.
The lines in the middle (light green and red) are fairly weak and more likely short term targets.
I assume the long term targets will line up well with the gaps which are marked in orange.
Orange also on RSI, which is saying be careful.
Short term can take it up to 980 or so but I think the lower targets are more likely and we'll see the higher targets after trend breaks and before it starts to really drop.
However, there are a lot of possibilities that can occur.
The main possibility looks to be a chance of a move to 980, but more likely won't get there and might stick around 780.
I really have a hard time saying what this will do and when it will top out, I could tell you more if I watched this daily, but I don't.
This chart is long term price targets for the downside and the upside.
Given the single trend, you'll need a new chart as more develop, feel free to message if I haven't updated after some time.
I think that covers most everything.
Summary.
I think this stock is overvalued big time, but still has potential to keep seeing more upside in the short and mid term.
Comment:
Would it be better if it tanked earnings down to $230 and then started the climb back up to $900.
OR
Since earnings, it can easily life the price to $900, which is an even bigger crash in the making.

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