Eli Lilly may rise to 929.00 - 953.00

Our pivot point stands at 806.

Our preference

The upside prevails as long as 806 is support.

Alternative scenario

The downside breakout of 806 would call for 767 and 743.

Comment

The RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 802.632 and 775.124).

Supports and resistances

977 **

953 *

929 **

905

849.99 (USD-last)

822

806 **

767 *

743 **

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