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Pharmaceuticals Industry Stocks Technical Analysis - LLYArchive
- 4/5/2024 -
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Lilly (Eli) & Co. (LLY) Technical Analysis
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| Summary:
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| | It was a third consecutive positive week for the Lilly (Eli) & Co. (LLY). During the week, the LLY climbed 6.25 points, or 0.80%, and closed at 784.21 on Friday, April 5, 2024. Weekly volume was -13% below average.
 Long-term trend: [See LLY long-term trend chart]
A long-term uptrend had started on March 5, 2009 at 27.21 and reached 800.78 on March 4, 2024. LLY gained -773.57 points, or -2842.96%, in 782 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (111.08) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
Medium-term trend: [See LLY medium-term trend chart]
A medium-term uptrend had started on October 23, 2019 at 101.36 and reached 800.78 on March 4, 2024. LLY gained -699.42 points, or -690.04%, in 227 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (407.70) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See LLY weekly technical indicators chart]
Weekly Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is above its signal line since January 26, 2024. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See LLY short-term trend chart]
A short-term uptrend had started on March 1, 2023 at 309.20 and reached 800.78 on March 4, 2024. LLY gained -491.58 points, or -158.98%, in 369 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 672.73 and resistance is at 842.11. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a short-term trend.
 Daily Technical Indicators: [See LLY daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since February 26, 2024. The distance between MACD and the signal line is low and getting smaller.
The distance between the Bollinger Bands is falling, and it was 5.59% on Friday. It is 56.82% lower than one year average. It indicates the period of low volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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