ELI LILLY targeting $705.00 if the 1D MA100 holds.

14 gru 2023

Eli Lilly (LLY) has been on an incredible run ever since our March 01 buy signal (see chart below) that even broke above Channel Up:

We have been strong supporters of the company's fundamentals and those are translated into strong technical bullish patters, offering solid buy opportunities. Another such opportunity exists now as the price is trading around the 1D MA50 (blue trend-line) near the bottom of the 2023 Channel Up.

As long as the 1D MA100 (green trend-line), which is exactly on the Channel's bottom, holds, we remain bullish, targeting the 2.382 Fibonacci extension (similar to the May 22 High) at $705.00. If the 1D MA100 breaks though, we will take the loss and sell instead targeting the 1D MA200 (orange trend-line) at $500.00 where a stronger buy opportunity exists.

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