Eli Lilly and Company (LLY) witnessed a marginal increase in its last session, closing at $762.91, which is a 0.75% uptick from the prior close. This movement is within a tight consolidation range, hinting at indecision in the market after a notable uptrend.
Volume and Momentum Indicators:
The volume of 842.624K is aligned with the average, suggesting a normal...
LLY is looking really good here on the daily chart. It's been consolidating just below ATH on declining volume. It's been respecting the 20 EMA nicely, and MACD is about to flip bullish. definitely one to watch for a breakout.
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...
trendline break + retest.
Possible Head & Shoulders
assumption: Fib# Ext. to 2.618 ( 800 ), retracement to 1.618 (690)
Short 780
Stop 801
Target 690, 650
Risk management is much more important than a good entry point.
I am not a PRO trader.
In my trading plan, the Max Risk of each short term trade should be less than 1% of an account.
In the complex, competitive and unpredictable pharmaceutical, Eli Lilly and Co (LLY) is a notable player that is gaining even more notoriety. The company is currently making significant strides in diabetes care and weight loss medications; however, these advancements have not come without their challenges. It has recently experienced periods of management...
Eli Lilly (LLY) has basically turned sideways since the February 16 High. The dominant pattern is a Channel Up since the March 07 2023 Low and can be divided into 3 Bullish Waves that delivered rallies between +45% and +52%. Every time the price hit the 1D MA50 (blue trend-line), it was a buy opportunity.
The 1D RSI in particular has a Buy Zone, which coincided...
Reasons for bullish bias:
- Entry is at breakout of HH
- DOW theory, SL at last HL
- Respecting trendline
Entry Level: 655.60
Stop Loss Level: 565.08
Take Profit Level 1: 746.12
LLY shown on a daily chart has doubled in the past year with the introduction of new FDA
approved drugs into the market. It has but out a series of favorable earnings reports with
optimistic realistic guidance and glowing analysts' forecasts. It has done so without any volume
pumps and just keeps grinding higher. This is because it is in the shadows of big...
Eli Lilly (LLY) gave us the best possible buy entry at the bottom of the Channel Up last time we gave a call on it (December 14 2023, see chart below) and not hit our $705.00 Target but also aggressively broke above the pattern:
In order to grasp the magnitude of that move, this time we zoom out on the 1W time-frame where we see the long-term pattern since...
LLY has had a good quarter and is rebounding after a sell off due to it being over extended, the a break over 775 in the coming days can send it easily to 795 and perhaps the psychological 800 mark.
If you haven`t bought LLY before the previous earnings:
Then analyzing the options chain and the chart patterns of LLY Eli Lilly prior to the earnings report this week,
I would consider purchasing the 680usd strike price Calls with
an expiration date of 2024-2-16,
for a premium of approximately $15.35.
If these options prove to be profitable prior to the...
Eli Lilly (NYSE: NYSE:LLY ) has once again defied expectations, propelling its stock to new heights with a stellar fourth-quarter performance that surpassed even the most optimistic forecasts. The pharmaceutical giant's earnings report, released early Tuesday, showcased a remarkable surge in both revenue and adjusted earnings, fueled by the successful launch of...
Eli Lilly - NYSE:LLY
Earnings
Rep: $2.49 ✅ Exp: $2.29 - 8.45% HIGHER
Revenue
Rep: $9.35b ✅ Exp: $8.94b - 4.55% HIGHER
Company Summary
Eli Lilly is the worlds 9th largest company by market cap at $670b and they have reported positive earnings and revenue both coming in higher than expected for Q4 2023. The pharmaceutical giant booked fourth-quarter...
Current price action is overbought based on Rsi indicator however the buying momentum is staying solid, look for price to continue leading into earnings after market close on tuesday. Of the last 16/26 bullish weekly candlebars price has consecutively made higher highs with roughly 38% bearish or selling pressure within that timeframe. Based on the current up...
2024 Trading Challenge Entry #2: Diary of an Option Trader
💡 Trade Overview:
I noticed LLY soaring on the TradingView stock heatmap today. Observing the monthly chart of AMEX:XLE (healthcare sector), it has been mostly sideways for years. However, in the past two days, NYSE:LLY has demonstrated strong bullish movement with increasing volume, indicating a...
