Eli Lilly may rise to 943.00 - 962.00

Our pivot point is at 851.

Our preference

The upside prevails as long as 851 is support.

Alternative scenario

The downside breakout of 851 would call for 818 and 799.

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 above its signal line. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 828.636 and 785.3912).

Supports and resistances

982 **

962 *

943 **

924

878.45 (USD-last)

863

851 **

818 *

799 **

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