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Analysis: #NYSE: #LLY

Case 39 #EliLilly and Company
DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

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LLY 1/5
The June 2000 high at 109.00 was finally overcome in October 2018, peaking at 132.13 in March 2019. Prices have since stalled and are currently trading in a broad range 119.90 - 105.60. .........

LLY 2/5
..... The 25 year #trendline is still intact. We expect prices to correct lower before entering into position.

LLY 3/5
Chart 1
Monthly Chart: A monthly close below 107.00 is required to target the strong support area: #SMA 55, trendline resistance turned support, the 2012 trendline. A strong close above 134.90 targets established #Fib resistances.

LLY 4/5
Chart 2
Weekly Chart: Range play activity can be seen from the natural pivots between SMA 40 and SMA 100. Not going to bother trading the range - and instead await for a break to the downside.

The #Strategy - included in the image.

LLY 5/5
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