LLY -Good to buy above 660LLY has given a very good breakout on channel.
It is look for target of 700 and 740 very soon
LLY trade ideas
LLY longCurrent price action is overbought based on Rsi indicator however the buying momentum is staying solid, look for price to continue leading into earnings after market close on tuesday. Of the last 16/26 bullish weekly candlebars price has consecutively made higher highs with roughly 38% bearish or selling pressure within that timeframe. Based on the current up trend price would make newer highs of roughly 4% staying above 630 would be a good pullback scenario if there is a drawdown due to upcoming dividends being paid out on the 14th.
📊 Earnings Edge: Diagonal Debit Dynamics - #2 Trade in 20242024 Trading Challenge Entry #2: Diary of an Option Trader
💡 Trade Overview:
I noticed LLY soaring on the TradingView stock heatmap today. Observing the monthly chart of AMEX:XLE (healthcare sector), it has been mostly sideways for years. However, in the past two days, NYSE:LLY has demonstrated strong bullish movement with increasing volume, indicating a potential uptrend. I strategized to profit from a possible breakout or continued trend within an ascending triangle pattern.
📊 Option Strategy choice:
Given the high IVR of 42 and an upcoming earnings report on February 6th before market, I anticipate further price rise. I pondered various strategies:
Single leg call: Not preferable due to increasing breakeven with time.
Naked put/credit vertical spread: Not ideal close to earnings, expecting IVR increase.
OTM calendar: Avoided due to back month’s illiquidity.
ATM calendar: Lower upper breakeven point was a concern.
Noticing that IV was higher for the front-month compared to the back-month, likely due to the nearing earnings, I decided a diagonal put debit strategy was ideal to allow significant upside potential while benefiting from minor retracements as time progresses and speculating on an IVR increase.
📊 Diagonal put debit Position Legs:
Chosen structure and execution details:
Buy LLY Mar 15, 2024, 600.00 PUT at 27.48 (Quantity: 1)
Sell LLY Feb 16, 2024, 610.00 PUT at 26.57 (Quantity: 1)
Trade Details & Key Metrics:
Symbol : LLY
Date/Time : 2024-01-03 15:00
POP : 54%
Required Buying Power ( Req.BP ): $1090
IVR : 44
Price : buying for $0.91 debit
Front month leg : February 16 @610 x 1 PUT
Back month leg : March 15 @600 x -1 PUT
📈 My Risk Tolerance:
For the 2024 trading challenge (goal: FWB:12K to $30k), I’m limiting floating losses to 1.5% per position, thus not tolerating more than a $175 loss. This threshold is approximately around a 590 strike price. While I’m comfortable with a considerable upside range, the upper breakeven at front month expiration is around a 711 strike, increasing to 760 at 21 DTE.
🎯 My Profit Target:
I’m aiming for about 2x the allowed loss, approximately around $300, but will consider taking profits if the price approaches the optimal equity curve point near a 650 strike. Realizing profits is always the more gratifying part of trading!
ANYWAY: HIT THE 🚀 BUTTON ABOVE!
This trade is part of my 2024 option trading challenge , where I aim to turn a 12k account above $30K 💰 (details in signature and my profile page) .
LLY trading inside the channelLet"s have a look at LLY chart on the 4 hours time frame. LLY has been in upsloping channel. And the price has been creating higher lows and higher highs. We expect the price to retest upsloping support and to continue the upward trajectory. The long position can be taken at the upsloping support and target would be at the upsloping resistance.
Good luck
LLY - 3 months CUP & HANDLE══════════════════════════════
Since 2014, my markets approach is to spot
trading opportunities based solely on the
development of
CLASSICAL CHART PATTERNS
🤝Let’s learn and grow together 🤝
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Hello Traders ✌
After a careful consideration I came to the conclusion that:
- it is crucial to be quick in alerting you with all the opportunities I spot and often I don't post a good pattern because I don't have the opportunity to write down a proper didactical comment;
- since my parameters to identify a Classical Pattern and its scenario are very well defined, many of my comments were and would be redundant;
- the information that I think is important is very simple and can easily be understood just by looking at charts;
For these reasons and hoping to give you a better help, I decided to write comments only when something very specific or interesting shows up, otherwise all the information is shown on the chart.
Thank you all for your support
🔎🔎🔎 ALWAYS REMEMBER
"A pattern IS NOT a Pattern until the breakout is completed. Before that moment it is just a bunch of colorful candlesticks on a chart of your watchlist"
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⚠ DISCLAIMER ⚠
The content is The Art Of Charting's personal opinion and it is posted purely for educational purpose and therefore it must not be taken as a direct or indirect investing recommendations or advices. Any action taken upon these information is at your own risk.
$LLY Double Top PierceNYSE:LLY Double Top Pierce A double top is a bearish reversal pattern in technical analysis that often signals a potential trend reversal in an asset's price. This pattern typically occurs after an uptrend and is identified by two peaks at approximately the same price level, separated by a trough or a pullback.
Here's a breakdown of the double top pattern:
1. **Uptrend:** The double top pattern forms after a prolonged uptrend, indicating a period of bullish sentiment in the market.
2. **First Peak (Left Shoulder):** The price reaches a high point, forming the first peak. After this peak, there is a temporary decline, known as the trough, as some traders take profits or exit positions.
3. **Recovery (First Trough):** Following the decline, there is a partial recovery as buyers step back in, creating a bounce from the trough. However, the price does not reach a new high.
4. **Second Peak (Head):** The price makes a second attempt to reach the previous high (or neckline) but fails to surpass it, forming the second peak. This peak is typically at or near the same level as the first peak.
5. **Decline (Second Trough):** After the second peak, a more substantial decline occurs as selling pressure increases. This decline usually confirms that a reversal might be underway.
6. **Neckline:** The line connecting the lows of the troughs forms the neckline. It acts as a support level. The confirmation of the double top pattern occurs when the price breaks below this neckline.
7. **Reversal Confirmation:** The completion of the double top is confirmed when the price closes below the neckline. This signals a shift in sentiment from bullish to bearish.
Traders often use the height of the pattern (distance from the peaks to the neckline) to estimate a potential target for the downward move after the pattern completion.
It's important to note that technical analysis patterns are not foolproof, and false signals can occur. Traders often use additional indicators and analysis to enhance the reliability of their trading decisions.
Eli Lilly Challenges Falling TrendlineEli Lilly spent the fourth quarter consolidating gains, and now trend followers may expect further upside.
The first pattern on today’s chart is the falling trendline along the peaks of November and December. Prices tried to fight above that resistance yesterday, creating potential for a breakout.
The pharma giant also pushed above its 50-day simple moving average (SMA). Both of those events may suggest that the intermediate-term trend is getting more bullish.
Next, LLY jumped on November 2 following strong quarterly results and bottomed around $567 the next session. It tested that post-earnings low last month and repeatedly closed above it. Is new support in place?
Finally, MACD just turned positive.
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Zepbound's FDA Approval: Boosting Lilly & Co's Stock OutlookThe FDA has approved a new drug, Zepbound, from Lilly (Eli) & Co, which will be used to treat obesity. According to the World Health Organization, nearly 3 million people die from obesity annually worldwide. Therefore, Zepbound is expected to be in demand, allowing the issuer to increase its revenue while maintaining current profitability levels. According to Morgan Stanley, the global market for obesity treatment drugs was valued at USD 2.4 billion in 2022 and is expected to reach USD 77 billion by 2030.
Today, we are focusing on the stock chart of Lilly (Eli) & Co. (LLY).
On the D1 timeframe, a support level has formed at 567.18 and resistance at 625.87. A relatively wide channel has developed, with a high probability of breaking through the upper boundary. The issuer's quotes are aiming to reach a historical maximum. In the event of a channel breakout to its width, the target could be the mark of 684.56. Additionally, following the last meeting of the US Federal Reserve, investors expect a softening of monetary policy, which is conducive to stock market growth.
On the H1 timeframe, long positions from current positions with a target of 625.87 may be of interest. A long position can be held up to 684.56 in the medium term, while the consolidation of quotes above the level of 597.70 will be an important signal for the continuation of the upward trend.
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LLY Eli Lilly: $555 | a look into an Outperformerfundamentally sound as it addresses world problems
in the field of science medicine
it acquires great companies to grow its portfolio
and price wise lets investors get out at premium
yet provides ample time to those who are patient to accumulate during down years
impressive board
leadership is topnotch
if you missed the bottom and fomo in at the top or highs
be ready to sit on for 3 to 7 years to break even
as such an established cycle according to weather and healthcare
ELI LILLY targeting $705.00 if the 1D MA100 holds.Eli Lilly (LLY) has been on an incredible run ever since our March 01 buy signal (see chart below) that even broke above Channel Up:
We have been strong supporters of the company's fundamentals and those are translated into strong technical bullish patters, offering solid buy opportunities. Another such opportunity exists now as the price is trading around the 1D MA50 (blue trend-line) near the bottom of the 2023 Channel Up.
As long as the 1D MA100 (green trend-line), which is exactly on the Channel's bottom, holds, we remain bullish, targeting the 2.382 Fibonacci extension (similar to the May 22 High) at $705.00. If the 1D MA100 breaks though, we will take the loss and sell instead targeting the 1D MA200 (orange trend-line) at $500.00 where a stronger buy opportunity exists.
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This is classic!Bullish higher lows trending with a wedge/pendant ready to pick a direction. Which way do you wanna go?
ELI LILLY Expected to rally above 700 if these conditions hold.LLY is holding the 1D MA50 on a neutral 1D technical outlook (RSI = 47.021, MACD = 2.060, ADX = 24.740), which indicates a strong demand level for the stock. The 1D RSI which is under a LH trendline shows that the stock price is at a pre bullish breakout accumulation like the last week of July and early August. If it holds the line, we will buy and aim a +30% rise (TP = 710.00), following a regression of -8% on each top.
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Don't neglect the healthcare sector !Have some fun and go find out what does this amazing company does that skyrocket its share prices , much much higher than most of the tech stocks !!!
LLY's Market Direction- which path will we take?NYSE:LLY is a high performing company and my single largest holding. LLY has an incredible pipeline and a strong management team. The GLP1 weight loss medications have undeniable near term and long term potential, and there is strong optimism for the Alzheimer treatment in LLY's pipeline. We need to remain objective to the possibility that the market has priced this in and that the strong uptrend may be ready for a breather.
This overview will focus on potential for further upside and where we may have opportunities for additional accumulation. I am not taking additional profit at this time due to my long term active management of this position. For the sake of transparency, I manage 70% of this position using trends on the weekly chart and the remaining 30% using a daily time frame.
Looking at the weekly chart, we see sentiment peaking and a second bearish divergence in RSI in early October followed by a MACD cross over at the end of October. There is persistent symmetry in the primary uptrend as well as a series of secondary downtrends. We can make a strong argument for the formation in of a bear flag or diamond top following September. Noting the channel, key fib levels, and the volume weighted average prices anchored to the breakout from March low and the start of consolidation in May suggest supporting levels near 550, 535, and 487. A fib extension from September high to October low suggests overhead levels of 655 and 687, contingent on a weekly close above 615-625.
Note that trend has aligned to the fib time zone anchored to the December 2021 high. The next key time zone is 12/11/23.
Looking at the daily we can see a clear loss in momentum in both the short term derivative oscillator and the long term William's oscillator. Price has fallen through the VWAPs anchored to the October high and low. Next supporting VWAPs are anchored to September high and the August gap up. The latter is trending in line with the current rising wedge. These imply key supporting levels at 580 and 568.
For a potential continuation, I'd like to see a full candle close above the 612-616 range. This closely aligns to what we see in the weekly chart. Otherwise, a retest of 615 and that overhead resistance will lead me to look for a break below the rising wedge. This would suggest downside targets of 555 and 535. These align with key Fibonacci levels, the VWAP anchored to the May gap up, and a proportional measured range from the middle of the descending wedge.
Note possibility for trend to align with the fib time zone with the next key dates marked at 11/17, 12/5, and 12/19.
Finally, while recent trend opens the possibility of a near term reversal, the history of strong seasonal performance in the months of November and December should not be ignored. The pharmacy sector ETF NASDAQ:PPH shows December closing higher 75% of the time with an average gain of 1.4% over the past 20 years; the second highest performing month next to April. December has been the strongest performing month for LLY; closing higher 75% of the time with an average gain of 4.7%
LLY OutlookThe tenken sen pointing upwards which actually indicates more on positive bullish bias while the kijun sen acts as strong support and remain flat which indicates a volatility throughout the development of the trend while the cloud is slightly incline and both span a and b were actually pointing upwards which could be interpret as an healthy bullish outcome for the coming development of the trend.
Eli Lilly and Company (LLY) - A Comprehensive OverviewOverview:
Eli Lilly and Company, a global pharmaceutical leader, is known for its extensive range of human pharmaceuticals. Founded in 1876 and headquartered in Indianapolis, LLY focuses on discovering, developing, and marketing pharmaceuticals worldwide.
Key Financials:
As of December 31, 2022, LLY's total assets stood at $49.49 billion, with a significant portion in current assets ($18.03 billion) and non-current assets ($31.45 billion).
Net sales/revenue saw a steady increase from $24.55 billion in 2018 to $28.54 billion in 2022.
Gross profit also rose from $19.59 billion in 2018 to $23.31 billion in 2022.
Net income displayed notable growth, especially in 2022, with $6.25 billion compared to $3.23 billion in 2018.
LLY’s operating cash flow improved from $5.53 billion in 2018 to $7.08 billion in 2022.
Stock Performance:
The stock price as of November 10, 2023, was $597.71, with a 52-week high of $629.97.
Market Capitalization: $537.5 billion.
The EPS growth was +14.7% from the prior TTM.
Market Position Against Competitors:
LLY’s P/E ratio of 83.1 is significantly higher compared to industry peers like Johnson & Johnson (JNJ), Pfizer Inc. (PFE), Merck & Co Inc (MRK), and Bristol-Myers Squibb Co (BMY), indicating a potentially higher growth expectation from the market.
LLY's Price to Sales ratio is 18.2, showing a premium valuation compared to its competitors.
Revenue growth at +1.5% is moderate compared to industry growth rates.
Investor Sentiment:
The Equity Summary Score for LLY is neutral at 6.3, reflecting a balanced view among analysts.
Analysts’ opinions show a mix of Neutral and Buy, with a significant positive outlook from firms like Jefferies, CSFB, and UBS.
Conclusion:
Eli Lilly and Company, with its strong financials, diverse product portfolio, and robust operational efficiency, remains a key player in the pharmaceutical industry. While it commands a premium valuation compared to its competitors, its consistent growth in key financial metrics, and innovative product pipeline, position it favorably for future growth. Investors and analysts maintain a cautiously optimistic view of the company's prospects in a competitive market.
Just Keeps GoingI guess the sky is the limit with LLY.
Earnings received well even though negative on EPS and a EPS miss.
Price appeared to be forming an M pattern but has made another leg up.
Resistance overhead.
No recommendation.
BEWARE of the dog, but that cat can be shady too (o:
Earnings 11-2Earnings does not look as if analysts expect a whole awful lot but you never know!
M pattern that could take this lower. Peak 2 is higher than peak 1 so possibly looking at a Shark (to the .886 or the 1.113 or a Cypher (to the .786 and measured from entire structure and the Shark is measured from the 1st peak) This could also be a NEN-Star (takes it to the 1.272.) and I will not venture a guess at this time.
Bearish RSI divergence (purple line).
Looks to me like this party will end within a few weeks but who knows. Possibly a 2nd shoulder will form wile folks run for the life boat. );
No recommendation
52 Week Range
302.14
629.97
Day Range
556.64
570.81
EPS (FWD)
8.24
PE (FWD)
68.03
Div Rate (FWD)
$4.52
Yield (FWD)
0.81%
Short Interest
0.71%
Market Cap
$503.81B
Volume
2,717,360
LLY Bearish Confirmation Put in at the 3.618 Fibonacci ExtensionLLY has given us Bearish RSI Confirmation at the 3.618 Fibonacci Extension and now looks to push below the $580 level. This could quickly devolve into LLY making a much deeper Bearish Retrace that would bring it below trend. At that point, we could very well see LLY come all the way back down to fill the gap at $163.42
ELI LILLY Next bullish phase starts. Target 670.Eli Lilly / LLY stopped its short term decline yesterday a little over the 1day MA50.
The green 1day candle signals the start of the new bullish phase inside this double Channel Up.
The 1day RSI is on a similar pattern as August 3rd.
Assuming a declining rate of growth on each Higher High, buy and target 670 (+30% from the recent bottom).
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Eli Lilly Sues Online Pharmacy To Ban US Imports Of Fake drugs Eli Lilly sues online pharmacies to ban US imports of fake Mounjaro.
Eli Lilly on Thursday said it sued 11 online pharmacies to stop them from importing, selling and distributing products claiming to contain the active ingredient in its diabetes drug Mounjaro, which is expected to be approved for weight loss later this year.
The Indianapolis-based drugmaker said the suit will go to the U.S. International Trade Commission (ITC).
It names the U.S.-based Artic Peptides, Strate Labs, Supopeptide, The Triggered Brand, and Unewlife as defendants, along with Britain’s Biolabshop, Spain’s Super Human Store and Steroide Kaufen in Poland. China’s Audrey Beauty, Mew Mews Company and AustroPeptide were also targeted in the complaint.
Lilly said testing of AustroPeptide’s product purporting to contain the Mounjaro main ingredient tirzepatide showed it actually was “nothing more than sugar alcohol.”
The U.S. ITC has the power issue import bans against products that violate certain parts of U.S. trade law and to take them off the market once they have entered the country.
Once the complaint is published in the Federal Register, the commission will have 30 days to decide whether to accept it or not.
Lilly is accusing the online pharmacies of infringing its trademark for Mounjaro, falsely associating themselves with Lilly and approved tirzepatide, and making false or misleading statements in their advertisements related to tirzepatide.
“The unapproved drug products are dangerous research chemicals that are not approved for human consumption and have no connection to Eli Lilly or Mounjaro,” Lilly said in its lawsuit.
Lilly is the only company with U.S. Food and Drug Administration approval to sell tirzepatide products.
Weight loss - Stock GainEli Lilly & Co. is a pharmaceutical company with a long history dating back to its founding by Eli Lilly in May 1876. The company is headquartered in Indianapolis, Indiana, and is engaged in the discovery, development, manufacture, and sale of pharmaceutical products. Their product portfolio includes a range of therapies in various therapeutic areas, such as diabetes, oncology, immunology, neuroscience, and other medical conditions.
One notable aspect of their recent success is the introduction of a weight loss drug, tirzepatide. This drug is similar to other medications like Ozempic and Wegovy, which are also designed to help with weight loss. These medications are administered via weekly injections and work by affecting the patient's appetite by mimicking certain hormones in the gut.
Wegovy, for instance, primarily mimics the hunger-regulating hormone called GLP-1, while tirzepatide goes a step further by mimicking both GLP-1 and another hormone called GIP. These hormonal effects can lead to decreased appetite, making it easier for individuals to manage their weight.
ELI LILLY Our gem on the verge of making a paradigm shift.Eli Lilly and Company (LLY) has long been one of our best investments a real gem that even withstood and was practically unaffected by the 2022 inflation crisis. For long we have been using the Fibonacci Channel to display LLY's parabolic nature having broken above the 2.0 Fibonacci extension last May.
This time the price reversed much quicker than technically expected and is attempting again to break the top (Higher Lows trend-line) of the Channel Up that started in 2020. If it closes above it, then we wil target the 3.0 Fibonacci Channel extension at $700. If it gets rejected and stays within the Channel Up, we will sell and target the recent Support at $520.
Note that a break above this 3-year Channel Up may constitute a paradigm shift as the stock has never hit a new upper Fibonacci level that quickly (remember it broke above the 2.0 Fib just 5 months ago). This can transcend LLY into an even more aggressive bullish nature that we can't yet quantify.
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