LLY will just bearish in the short term, while it fills the gap near $140.
1. Our first confirmation is that the 21 moving average is very far away from the current price at $160. We can see a sharp pull back from the resistance level at $160.
2. The fib retracement has reached 1.161%, which is a massive gain for bulls forcing them to take profits.
3. LLY could fill the gap in the near terms, or come back in the future to give a chance to buyers from $140 - $155 to acquire the stock. If the market doesn't allow the buyers, then is considered somewhat inside trading.
4. Looking at the RSI, we see a straight line up, and we call this a rubber band effect since there are high chances of it snapping back.
I would wait until the end of the market to do your best.
1. Our first confirmation is that the 21 moving average is very far away from the current price at $160. We can see a sharp pull back from the resistance level at $160.
2. The fib retracement has reached 1.161%, which is a massive gain for bulls forcing them to take profits.
3. LLY could fill the gap in the near terms, or come back in the future to give a chance to buyers from $140 - $155 to acquire the stock. If the market doesn't allow the buyers, then is considered somewhat inside trading.
4. Looking at the RSI, we see a straight line up, and we call this a rubber band effect since there are high chances of it snapping back.
I would wait until the end of the market to do your best.
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