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ELI LILLY AND COMPANYELI LILLY AND COMPANYELI LILLY AND COMPANY

ELI LILLY AND COMPANY

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LLYCL trade ideas

OVERBOUGHTRSI is at 82.17. THIS IS NOT TO LONG ENTRY LEVEL. (EL) It is often important to Wait for EL especially when price is struggling. Price is trying to touch the top of the cup. There is not a well formed handle but I drew a green line where I see some support. You may see this differently. ATH is 384.44. Spinning top representing indecision at resistance. No recommendation Price is above the .236 of the trend up. Overbought refers to a security with a price that's higher than its intrinsic value. Many investors use price-earnings (P/E) ratios to determine if a stock is overbought, while traders use technical indicators, like the relative strength index (RSI). An oversold market is one that has fallen sharply and is expected to bounce higher. On the other hand, an overbought market has risen sharply and is possibly ripe for a decline. Securities can remain overbought or oversold for extended periods of time.
NYSE:LLY
by lauralea
ELI LILLY on the best buy opportunity of the year!Eli Lilly and Company (LLY) has been trading within a Channel Up pattern since the October 30 2020 low exactly on the 1W MA100 (red trend-line). As the 1D RSI turned oversold below the 30.00 barrier, while the price touched the bottom (Higher Lows trend-line) of the Channel Up, it has filled all conditions for the most optimal buy level of the year. There have been another three similar oversold events, each on one year since 2020. Once the price breaks above the 1D MA200 (orange trend-line) again, which you can use as confirmation and take the buy after it, we'll set a target at $390.00 on a 4 month horizon. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NYSE:LLYLong
by TradingShot
2
Looks Like A Roof! I do not see this pattern often (like maybe 2 other times that I remember) so I googled it and T. Bulkowski (the best chart analyst I have ever followed) had some information online about a "Roof" pattern. I do not see 2 triangles attached to each other at the wide ends which would make a diamond top, but you may see things differently. T. Bulkowski did not say if it was bullish or bearish, only that it performed poorly statistically among other chart patterns. So I will watch this and maybe learn from it, but to me it resembles a version of a H&S without distinctive peaks for the head or the 2 shoulders. There are so many rising wedges under this stock that span over the last 2 years that it would be impossible to draw them all, so I will refer to the lowest wedge which would take this under 200 if the bottom trendline were to be broken. Rising wedges are not valid until the bottom line is broken, but when they are broken expect a pull back due to the over-supply inside the wedge.. Price is well above the.236 of the trend up. LLY is priced for perfection. Not one little thing can be out of place when you are perfect. No recommendation.
NYSE:LLY
by lauralea
LLY daily - bullish after breakoutLLY daily - is in the bull flag which could be nice and could be bullish if the price breaks out through the upper blue dotted line. Volume decreased last two days which is bearish because the price went up at a lower volume. Price is moving around 8, 20, and 50 days MA which could indicate a strong move pretty soon. RSI is neutral. MACD histogram tick is smaller while the MACD line turns and starts to move up which could be bullish if continue to do so. It also has small bullish divergences. Overall: LLY could have a strong up move if it moves very strongly above the upper blue dotted line and close there. Long trade would be triggered if the price moves strongly on a bigger volume than the last 20 days' average volume, or if the day is closed above that dotted trend line. Have in mind that it also looks like an SHS reversal pattern, therefore, I said LLY needs a powerful move for a long position. LLY is a strong/bulling fundamental stock therefore would be traded only long.
NYSE:LLY
by Consistent_Trades
3