LLY, This ALL-TIME-HIGH ROCKET is a NEVER ENDING STORY!Hello There!
Welcome to my new analysis about LLY on several timeframe perspectives. LLY printed an major bullish breakout literally over night bouncing out of the range. In the recent times the pharma industry transformed into a eager bullish environment since the gains seen because of the "pandemic" and LLY is a stock already present since 1978 in the 19th century, a time before the great depression. The FED is considering a more dovish policy as inflationary pressures in the U.S. decreased and LLY showed an development typical for more bullish stocks within the market, it already bounced before the U.S. CPI release signaled an easing in inflation, such moves are always important to anticipate as it is the case with LLY and the long direction.
Within the chart LLY is now forming a flag-formation on the local term which is likely to complete with a breakout in the near future setting up the next wave C extension into the upper directions. On the global term LLY bounced several times within the ascending trendline and has an underlying strong volatility-spike structure which is bolstering the bullish sentiment here. Once LLY has shown up with the breakout dynamics and reached the targets of the local formation this is likely to convert into the continuation of the global trend as well. Currently, the bullish scenario should be considered if the FED does not become more hawkish on interest rates or there is a major demand shortage increasing supply within the pharma market this should be a considerable scenario for the next times.
In this manner, thank you everybody for watching, support is greatly appreciated, all the best!
VP
