ELI LILLY Approaching the top of the Channel. Sell opportunity.

١٥ أغسطس ٢٠٢٣

Last time we looked at Eli Lilly and Company (LLY) was on March 01 (see chart below) where we called for the most optimal buy entry exactly at the bottom of the bullish pattern:

The price is now approaching the top of the 3 year logarithmic Channel Up, highly overbought with the RSI on the 1W time-frame at 80.00. This gradually calls for a sell towards the end of August, targeting the 1D MA100 (red trend-line) at $480.00, where the stock will turn into a buy opportunity again.

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