Hello traders, ELI LILLY AND COMPANY is on a bullish trend line, tenative of sellers aborted on a large volume, preparation to break the compression zone and mounted to seek the highest.
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LLY will just bearish in the short term, while it fills the gap near $140.
1. Our first confirmation is that the 21 moving average is very far away from the current price at $160. We can see a sharp pull back from the resistance level at $160.
2. The fib retracement has reached 1.161%, which is a massive gain for bulls forcing them to take profits.
3. LLY...
$LLY Oversold - Bullish Hammer on Daily Chart
Pennant formed on shorter time frame charts. Bounce move could be imminent.
Short term target - $148.00
Could quickly see $152.00 if upper down-trend line is broken.
Note: Meant to be educational, not investment advice.
About to lose daily support, needs a daily close below. Will it happen? I don't know, but if it does... we test some levels below. If this day closes above probs retest the highs / make new highs.
Eli Lilly & Co. engages in the discovery, development, manufacture and sale of pharmaceutical products. Its products include Forteo, Adrica, BAQSIMI, Basaglar and Glucagn. The company was founded by Eli Lilly on May 1876 and is headquartered in Indianapolis, IN.
LLY
