Eli Lilly may fall to 704.00 - 728.00

Our pivot point is at 855.

Our preference

The downside prevails as long as 855 is resistance.

Alternative scenario

The upside breakout of 855 would call for 897 and 922.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 897.296 and 864.5628). Finally, Eli Lilly is trading below its lower daily Bollinger band (standing at 812.57).

Supports and resistances

922 **

897 *

855 **

838

804.62 (USD-last)

752

728 **

704 *

680 **

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