LLY should provide opportunity in few weeks

Elliott Wave Forecast Team ElliottWave-Forecast.com

Eli Lilly & Company (LLY) discovers, develops & markets human pharmaceuticals worldwide. It is having around 739 B market cap as on 8-April-2024. It is based in Indianapolis, Indiana, US, comes under Healthcare sector & trades as “LLY” ticket at NYSE.

As showing in the previous article from 2.19.2024, LLY expect to resume higher in (3) towards $869.49 or higher levels. It expects to remain supported in 3, 7 or 11 swings pullback to resume rally in ((3)).

LLY – Elliott Wave Latest Weekly View:

In Weekly sequence, it finished II of (III) at $101.36 low in October-2019. It favors higher in third wave extension as (3) of ((3)) of III towards $869.49 or higher levels. It placed ((1)) at $375.25 high in December-2022 & ((2)) at $309.20 low in March-2023. Within ((1)), it finished (1) at $170.75 as diagonal structure & (2) at $129.21 low as 0.618 Fibonacci retracement. It placed (3) at $335.33 high, (4) at $296.32 low & (5) at $375.25 high.

LLY – Elliott Wave View From 2.19.2024:

Above ((2)) low, it ended (1) of ((3)) at $629.97 high & (2) at $547.61 low as 0.236 Fibonacci retracement. Above (2) low, it favors upside in 3 of (3) & expect one more push higher to finish 3 above $800.78 before it may pullback in 4. We like to buy the pullback in 3, 7 or 11 swings correction at extreme areas, while dips remain above rising price trendline.

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Elliott Wave Forecast Team

ElliottWave-Forecast.com

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