Eli Lilly, Bear Divergence and a Repeat Head & Shoulders Pattern
Eli Lilly Oversold on the Monthly RSI.
RSI and MacD are both indicating bearish divergence.
Repeat on Head & Shoulders Pattern
Stock trading at 50x of earnings (forward P/E is 20), PEG ratio of 3.50! Price is 9x book value.
High Risk to Reward Ratio
3.8 to 1 with a large stop of $5.50
6:1 or better with a stop above the swing high
Target 1: $96
Target 2: $90
You could open a short now with a 5.5% stop loss, or you could wait for the H&S to complete itself.
RSI and MacD are both indicating bearish divergence.
Repeat on Head & Shoulders Pattern
Stock trading at 50x of earnings (forward P/E is 20), PEG ratio of 3.50! Price is 9x book value.
High Risk to Reward Ratio
3.8 to 1 with a large stop of $5.50
6:1 or better with a stop above the swing high
Target 1: $96
Target 2: $90
You could open a short now with a 5.5% stop loss, or you could wait for the H&S to complete itself.
Trade attivo
LLY made another leg higher but it missed our stop by a dollar. Starting to see signs of it rolling over.
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.