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Uptrend ExhaustionArchive
- 4/26/2024 -
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Lilly (Eli) & Co. (LLY) Technical Analysis
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| Summary:
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| | It was a first positive week for the Lilly (Eli) & Co. (LLY). During the week, the LLY climbed 7.20 points, or 0.99%, and closed at 733.51 on Friday, April 26, 2024. Weekly volume was -25% below average.
LLY is a member of Health Care Sector. Health Care is the second most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 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 (111.43) 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 (412.22) 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 technical indicators are neutral.
The weekly MACD line is below its signal line since April 12, 2024. 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 Rising Channel chart pattern. The uptrend support line (758.57) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. LLY may retest the broken support line. It is considered to be a resistance line now. 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 support in a short-term trend.
 Daily Technical Indicators: [See LLY daily technical indicators chart]
Daily Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Daily Lane's Stochastic and MACD have bullish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. 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 and Williams' Percentage Range help.
The daily MACD line is below its signal line since February 26, 2024.
During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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