The Greedy Trader Weekly Analysis
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Uptrend Exhaustion

Uptrend Exhaustion stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Stock market alert is a warning signal. Uptrend Exhaustion alert indicates that long term uptrend is exhausted and probability of long term trend reversal is high. Uptrend exhaustion stock market alert presents relatively low to medium risk - high reword stock pick for overvalued stocks.

The strategy is based on selling (or taking a short) position on anticipation of uptrend reversal.

Uptrend Exhaustion

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- 3/15/2024 -
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Lilly (Eli) & Co. (LLY) Technical Analysis

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Summary:
Weekly :Williams' Percentage Range and Lane's Stochastic are overboughtBroken trend resistance lineBroken trend resistance line
Daily :The price is close to the moving average in the center of the Bollinger Bands
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It was the negative week for the Lilly (Eli) & Co. (LLY). During the week, the LLY dropped -7.97 points, or -1.05%, and closed at 754.17 on Friday, March 15, 2024. Weekly volume was -9% below average.

Long-term trend: [See LLY long-term trend chart]
A long-term uptrend had started on March 5, 2009 at 27.21 and reached 800.78 on March 4, 2024. LLY gained -773.57 points, or -2842.96%, in 782 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (110.76) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See LLY medium-term trend chart]
A medium-term uptrend had started on October 23, 2019 at 101.36 and reached 800.78 on March 4, 2024. LLY gained -699.42 points, or -690.04%, in 227 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (403.47) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See LLY weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since January 26, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.

Short-term trend: [See LLY short-term trend chart]
A short-term uptrend had started on March 1, 2023 at 309.20 and reached 800.78 on March 4, 2024. LLY gained -491.58 points, or -158.98%, in 369 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 657.73 and resistance is at 832.65. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a short-term trend.

Daily Technical Indicators: [See LLY daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since February 26, 2024. The distance between MACD and the signal line is relatively high and getting bigger.

The price is close to the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 44.19
Williams' Percentage Range (W%R) 62.10
Lane's Stochastic (%D-Slow) 34.75
Greed/Fear Indicator (GFI) 38.96
Moving Average Converg./Diverg. (MACD) 20.23
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 74.31
Williams' Percentage Range (W%R) 17.90
Overbought
Lane's Stochastic (%D-Slow) 87.02
Overbought
Greed/Fear Indicator (GFI) 78.72
Moving Average Converg./Diverg. (MACD) 52.12
Trading Signals
Description Value Chart
Weekly Trendline Resistance 832.65
Upper Bollinger Band 780.88
Parabolic System 775.14
Weekly Stochastic Crossing 772.04
20 Day Moving Average 765.36
Daily Stochastic Crossing 754.51
Price 754.17
Lower Bollinger Band 725.09
50 Day Moving Average 704.97
Weekly Trendline Support 657.73
Sector and Industry
Description Name Rank
Sector Health Care 6
Industry Pharmaceuticals 47
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 547.61
Low Date 10/31/2023
High 800.78
High Date 03/04/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 832.65
Support 657.73
Low 309.20
Low Date 03/01/2023
High 800.78
High Date 03/04/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 457.67
Support 403.47
Low 101.36
Low Date 10/23/2019
High 800.78
High Date 03/04/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 64.18
Low Date 11/23/2016
High 800.78
High Date 03/04/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 127.82
Support 110.76
Low 27.21
Low Date 03/05/2009
High 800.78
High Date 03/04/2024
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.