LLY finds buyers again around 101.99
Eli Lilly and Company (LLY) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
LLY finished the week 1.66% higher at 102.25 after gaining $0.06 (0.06%) today. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (LLY as at Aug 10, 2018):
Friday's trading range was $1.20 (1.17%), that's below last trading month's daily average range of $1.69. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being way above average. Prices continued to consolidate within a tight trading range between 101.43 and 103.19 which it has been in now for the last three days.
Prices are trading close to a key support level at 101.43. After having been unable to move lower than 101.92 in the previous session, the share found buyers again around the same price level today at 101.99.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Selling might accelerate should prices move below the close-by swing low at 101.43 where further sell stops could get activated.