Eli Lilly may rise to 948.00 - 959.00

864 is our pivot point.

Our preference

As long as 864 is support look for 948.

Alternative scenario

The downside breakout of 864 would call for 844 and 833.

Comment

The RSI is above 70. It could mean either that the stock is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and below its signal line. The stock could retrace in the short term. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 879.4675 and 816.6978).

Supports and resistances

971 **

959 *

948 **

936

906.71 (USD-last)

871

864 **

844 *

833 **

Number of asterisks represents the strength of support and resistance levels.