How the price action of Eli Lilly ($LLY) is used to our Advantage
October 22, 2023, 11:00 am ET, BY Rick O.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for LLY
- Buy LLY slightly over 530.70 target 587.58 stop loss @ 529.17 Details
The technical summary data tells us to buy LLY near 530.70 with an upside target of 587.58. This data also tells us to set a stop loss @ 529.17 to protect against excessive loss in case the stock begins to move against the trade. 530.70 is the first level of support below 584.64 , and by rule, any test of support is a buy signal. In this case, support 530.70 is being tested, a buy signal would exist.
- Short LLY slightly under 587.58, target 530.70, stop loss @ 589.28 Details
The technical summary data is suggesting a short of LLY as it gets near 587.58 with a downside target of 530.70. We should have a stop loss in place at 589.28though. 587.58 is the first level of resistance above 584.64, and by rule, any test of resistance is a short signal. In this case, if resistance 587.58 is being tested, a short signal would exist.
Swing Trading Plans for LLY
- Buy LLY slightly over 587.58, target 599.56, Stop Loss @ 585.88 Details
If 587.58 begins to break higher, the technical summary data tells us to buy LLY just slightly over 587.58, with an upside target of 599.56. The data also tells us to set a stop loss @ 585.88 in case the stock turns against the trade. 587.58 is the first level of resistance above 584.64, and by rule, any break above resistance is a buy signal. In this case, 587.58, 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 587.58, target 530.70, Stop Loss @ 589.28. Details
The technical summary data is suggesting a short of LLY if it tests 587.58 with a downside target of 530.70. We should have a stop loss in place at 589.28 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, 587.58, 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 587.58, target 594.90, Stop Loss @ 586.21 Details
If 587.58 begins to break higher, the technical summary data tells us to buy LLY just slightly over 587.58, with an upside target of 594.90. The data also tells us to set a stop loss @ 586.21 in case the stock turns against the trade. 587.58 is the first level of resistance above 584.64, and by rule, any break above resistance is a buy signal. In this case, 587.58, 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 587.58, target 580.37, Stop Loss @ 588.95. Details
The technical summary data is suggesting a short of LLY if it tests 587.58 with a downside target of 580.37. We should have a stop loss in place at 588.95 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, 587.58, 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 (LLY) available here: LLY.
LLY Ratings for October 22:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Strong |
Strong |
Strong |
| P1 |
0 |
0 |
475.30 |
| P2 |
580.37 |
599.56 |
530.70 |
| P3 |
594.90 |
638.97 |
587.58 |
AI Generated Signals for LLY
Blue = Current Price
Red= Resistance
Green = Support
Real Time Updates for Repeat Institutional Readers:
Instructions:Click the Get Real Time Updates button below.
In the login prompt, select forgot username
Type the email you use for Factset
Use the user/pass you receive to login
You will have 24/7 access to real time updates.
From then on you can just click to get the real time update whenever you want.
GET REAL TIME UPDATES
Our Market Crash Leading Indicator isEvitar Corte.
Evitar Corte warned of market crash risk four times since 2000.
It identified the Internet Debacle before it happened.
It identified the Credit Crisis before it happened.
It identified the Corona Crash too.
See what Evitar Corte is Saying Now.
Get Notified When our Ratings Change:Take a Trial
Our job as #investors is to pay attention to the #stocks we own. Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The Eli Lilly (NYSE: LLY) data table below can help you with price action, and we have more details too. Trading plans for LLY are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for LLY:
pool ads
