Eli Lilly & Company (LLY) discovers, develops & markets human pharmaceuticals worldwide. It is based in Indianapolis, Indiana, US, comes under Healthcare sector & trades as “LLY” ticket at NYSE.
As showing in the previous article from 4.08.2024, LLY expect short term upside towards $869.49 or higher levels to finish (3) of ((3)) in impulse sequence. It favors upside in 5 of (3), while placed 4 at $718.30 low.
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 Weekly View From 4.08.2024:
Above ((2)) low, it placed (2) of ((3)) at $547.61 low & 4 of (3) at $718.30 low, favoring upside in 5 of (3) as it broke above 3 high. It expects short term upside in 5 towards $820 – $869.5 area to finish (3) of ((3)) before it should 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.
Source: https://elliottwave-forecast.com/stock-market/lly-should-find-support-in-pullbacks/