The technical analysis of Eli Lilly and Company (LLY) indicates a mixed sentiment with various indicators suggesting both positive and negative trends. Here's a detailed analysis:
- Current Price and Moving Averages: The closing price of LLY on September 27, 2024, was $877.791. The 5-Day, 10-Day, and 20-Day moving averages were $910.92, $912.58, and $919.67, respectively2. These short-term moving averages are above the current price, indicating a bearish trend as the price is below the averages.
- Longer-Term Moving Averages: The 30-Day, 50-Day, and 60-Day moving averages were $928.01, $894, and $898.9, respectively3. The 120-Day, 200-Day, and 240-Day moving averages were $853.48, $789.88, and $756.484. These longer-term moving averages are also above the current price, suggesting a bearish trend.
- Technical Indicators:
- The MACD (Moving Average Convergence Divergence) is -9.341, indicating bearish momentum.
- The KDJ (Stochastic oscillator) value is 32.81, which could suggest the stock is oversold.
- The RSI (Relative Strength Index) is 38.41, typically indicating a stock is neither overbought nor oversold.
- The P/E ratio is 140.791, the P/S ratio is 21.531, and the P/B ratio is not provided1.
- Market Sentiment:
- The overall technical sentiment for LLY is a sell, with a strong buy signal from the moving averages but a bearish MACD and RSI indicating potential for further declines56.
- Despite the mixed signals, the stock has shown resilience amid competitive pressures in the weight-loss drug market7.
- It's important to note that technical analysis is just one tool investors use to make decisions, and it should be combined with fundamental analysis and other market data89.
In conclusion, while the moving averages suggest a bearish trend, the MACD and RSI indicate potential for further declines. The mixed signals from various technical indicators suggest that investors should exercise caution and consider other market data and analysis methods before making investment decisions.
9/27/2024 10:04pm
