Eli Lilly Stock Forecast
Eli Lilly stock price ended at $733.51 on Friday, after gaining 1.19%.
(Updated on Apr 26, 2024)
The Eli Lilly stock price gained 1.19% on the last trading day (Friday, 26th Apr 2024), rising from $724.87 to $733.51. During the last trading day the stock fluctuated 2.28% from a day low at $721.00 to a day high of $737.45. The price has fallen in 6 of the last 10 days and is down by -2.41% for this period. Volume fell on the last day by -626 thousand shares and in total, 2 million shares were bought and sold for approximately $1.41 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.14% during the next 3 months and, with a 90% probability hold a price between $734.01 and $871.79 at the end of this 3-month period.
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LLY Signals & Forecast
Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Eli Lilly stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $734.27 and $757.89. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 04, 2024, and so far it has fallen -7.42%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Eli Lilly stock
Eli Lilly finds support from accumulated volume at $725.38 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $16.45 (2.28%) between high and low. For the last week, the stock has had daily average volatility of 2.12%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LLY) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Eli Lilly and Company to open at $730.65, and during the day (based on 14 day Average True Range), to move between $715.74 and $751.28, which gives a possible trading interval of +/-$17.77 (+/-2.42%) up or down from last closing price. If Eli Lilly and Company takes out the full calculated possible swing range there will be an estimated 4.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $735.68 (0.30%) than the support at $725.38 (1.11%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Eli Lilly will release earnings BMO on Tuesday, April 30, 2024.The consensus among the analysts for the expected earnings (EPS) is $2.53. We will update the financials statements for Eli Lilly, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.74% in the first trading day after earnings release.
Is Eli Lilly and Company stock A Buy?
The Eli Lilly stock holds several negative signals and despite the positive trend, we believe Eli Lilly will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.756 Sell Candidate Unchanged
Predicted Opening Price for Eli Lilly and Company of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
$730.65 ( 0.389%) | $733.51 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LLY
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 747.10 | 1.85 % | |
R2 | 740.82 | 1.00 % | ||
R1 | 736.94 | 0.467 % | ||
Current price: | 733.51 | |||
Support | S1 | 724.37 | -1.25 % | |
S2 | 720.49 | -1.78 % | ||
S3 | 714.20 | -2.63 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 755.66 | 3.02 % | |
R2 | 750.77 | 2.35 % | ||
R1 | 735.68 | 0.296 % | ||
Current price | 733.51 | |||
Support | S1 | 725.38 | -1.11% | |
S2 | 706.20 | -3.72% | ||
S3 | 705.03 | -3.88% |
LLY Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 08, 2023 | Feb 15, 2024 | Mar 04, 2024 | $1.30 | 0.164% |
2 | Dec 08, 2023 | Feb 14, 2024 | Mar 08, 2024 | $1.30 | 0.171% |
3 | Nov 01, 2023 | Nov 14, 2023 | Dec 08, 2023 | $1.13 | 0.189% |
4 | Jun 26, 2023 | Aug 14, 2023 | Sep 08, 2023 | $1.13 | 0.193% |
5 | May 01, 2023 | May 12, 2023 | Jun 09, 2023 | $1.13 | 0.253% |
FAQ
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