LLY finds buyers again around 101.99


Lilly (Eli) & Co. (LLY) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
LLY finds buyers again around 101.99
LLY stuck within tight trading range
LLY closes within previous day's range after lackluster session
LLY ends the day indecisive
TQ Sentiment
Report Sentiment: 33% Bullish
Technical Forecast:
Overview

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 chart for LLY
Volatility

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.

Support/Resistance

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.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

Selling might accelerate should prices move below the close-by swing low at 101.43 where further sell stops could get activated.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Lilly (Eli) & Co.
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Decisive Up Move TQ Pro Members Only
White Candle TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Up Close near high of period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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