$LLY - RC -
Added 2023-10-26 01:55:31 +0000 UTC$LLY got a strong bounce on the 50 Day MA at the start of October and it decided to go big and go for the 4.618 Fib at $625 and it did manage to go that high and go all the way to $629 but as we have seen this before, that a price action has never stayed above the 4.618 Fib without a strong pull back needed first.
$LLY has gone parabolic all year on the back of its very successful fat losing drug which appears to be in strong demand in the US and spreading around the world.
But we have seen this many times when a stock goes parabolic, it needs to let off some steam and we saw how long that has taken for $NVDA, so even some sideways movement here for $LLY will help relieve some pressure on its technicals.
Because this is not a buy here at these levels.
