Trend Tracker for (LLY)

April 18, 2024, 07:04 am ET, BY James G.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for LLY

• Buy LLY slightly over 706.59 target 759.37 stop loss @ 704.55 Details

The technical summary data tells us to buy LLY near 706.59 with an upside target of 759.37. This data also tells us to set a stop loss @ 704.55 to protect against excessive loss in case the stock begins to move against the trade. 706.59 is the first level of support below 752.5 , and by rule, any test of support is a buy signal. In this case, support 706.59 would be being tested, so a buy signal would exist.

• Short LLY slightly under 759.37, target 706.59, stop loss @ 761.56 Details

The technical summary data is suggesting a short of LLY as it gets near 759.37 with a downside target of 706.59. We should have a stop loss in place at 761.56though. 759.37 is the first level of resistance above 752.5, and by rule, any test of resistance is a short signal. In this case, if resistance 759.37 is being tested, so a short signal would exist.

Swing Trading Plans for LLY

• Buy LLY slightly over 759.37, target 815.61, Stop Loss @ 757.18 Details

If 759.37 begins to break higher, the technical summary data tells us to buy LLY just slightly over 759.37, with an upside target of 815.61. The data also tells us to set a stop loss @ 757.18 in case the stock turns against the trade. 759.37 is the first level of resistance above 752.5, and by rule, any break above resistance is a buy signal. In this case, 759.37, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short LLY slightly near 759.37, target 740.15, Stop Loss @ 761.56. Details

The technical summary data is suggesting a short of LLY if it tests 759.37 with a downside target of 740.15. We should have a stop loss in place at 761.56 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 759.37, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for LLY

• Buy LLY slightly over 755.03, target 759.37, Stop Loss @ 753.27 Details

If 755.03 begins to break higher, the technical summary data tells us to buy LLY just slightly over 755.03, with an upside target of 759.37. The data also tells us to set a stop loss @ 753.27 in case the stock turns against the trade. 755.03 is the first level of resistance above 752.5, and by rule, any break above resistance is a buy signal. In this case, 755.03, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short LLY slightly near 755.03, target 743.04, Stop Loss @ 756.79. Details

The technical summary data is suggesting a short of LLY if it tests 755.03 with a downside target of 743.04. We should have a stop loss in place at 756.79 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 755.03, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for Eli Lilly And Company (LLY) available here: LLY.

LLY Ratings for April 18:

Term →	Near	Mid	Long
Rating	Neutral	Neutral	Strong
P1	0	0	706.59
P2	743.04	740.15	759.37
P3	755.03	759.35	815.61

AI Generated Signals for LLY

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The data for Eli Lilly And Company (NYSE: LLY) herein utilizes proprietary algorithms produced by Stock Traders Daily and refined since the turn of the century.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for LLY change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if LLY is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for LLY too.  All of these are offered below the Summary Table.