Eli Lilly & Company (LLY) Favors Further Extension Higher in Bullish Sequence

Eli Lilly & Company (LLY) discovers, develops & markets human pharmaceuticals worldwide. It is having around 429 B market cap as on July, 9^th. It is based in Indianapolis, Indiana, US, comes under Healthcare sector & trades as “LLY” ticket at NYSE.

LLY showing higher high bullish sequence in Weekly & favors higher in (III) of ((III)) started from March-2009 low of $27.21. It favors higher in nest & expect further upside in ((3)) of III of (III).

LLY - Elliott Wave Latest Weekly View: 

In Weekly sequence, it finished (I) at $92.85 high & (II) at $64.18 low. Above there, it favors higher in (III) of ((III)), in which it placed I at $132.13 high & II at $101.36 low. Wave II correction was 0.5 Fibonacci retracement of I. It favors higher in third wave extension & expect more upside in III before correcting in IV. It placed ((1)) at $375.25 high & ((2)) at $309.20 low as shallow correction. 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.

Above ((2)) low, it favors higher in (1) of ((3)) & expect small upside before correcting lower. It expects pullback in (2) in 3, 7 or 11 swings & remain supported at extreme areas to resume higher in (3) of ((3)). ((3)) can extend towards 584 or higher levels before it may starts correcting in ((4)) as aggressive view. Alternatively, it may ended III at $375.25 high & IV at $309.20 low. Above there, it favors higher in V of (III) as less aggressive view, which will end soon before correcting in (IV). In either the way, it expects to remain supported in next pullback to see further upside.

Source: https://elliottwave-forecast.c...