Nov. 14 at 2:47 AM
$LLY is currently trading at
$1022.87, showing strong bullish momentum with an RSI of 89.59, indicating overbought conditions. The price is significantly above both the 30-day moving average (MA30) of 865.51 and the 50-day moving average (MA50) of 821.08, reinforcing a bullish trend. However, the high of
$1032.95 within the last 60 days suggests potential resistance at this level.
Given the overbought RSI, a pullback may be imminent. Suggested entry could be around
$1010 to capture a potential retracement. Set a stop-loss at
$990 to manage risk.
Target 1 can be set at the recent high of
$1032.95, while Target 2 could be positioned at
$1050, assuming bullish continuation.
Overall, while the short-term bias remains bullish, caution is advised due to the high RSI.
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