ELI LILLY has at least +50% upside from here.Eli Lilly (LLY) has been trading within a 5-year Channel Up and last week closed below its 1W MA50 (blue trend-line) for the first time since the week of March 06 2023. Despite the bearish pressure of this Bearish Leg since July 15 2024, that last 1W MA50 closing was the previous Higher Low at the bottom of the Channel Up.
The 1W RSI is on a similar level (just below 40.00) with all previous 4 major bottoms and the common characteristic of all was that the stock broke below the 1W MA50 but managed to keep clear and hold the 1W MA100 (green trend-line), practically the most important Support level of the market.
If you want a confirmed buy entry, you might want to wait for yet another Bullish Cross on the 1W MACD (as it happened on all previous bottoms), otherwise this buy opportunity is good to go for at least +58% from the bottom (minimum rise among those 4 Bullish Legs). Our Target is $1135.
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