Eli Lilly & Company (LLY) discovers, develops & markets human pharmaceuticals worldwide. It is having around 742 B$ market cap as on 16-February, 2024. It is based in Indianapolis, Indiana, US, comes under Healthcare sector & trades as “LLY” ticket at NYSE.
LLY react higher as expected from previous article, favoring further upside in ((3)) of III in impulse sequence. It favors upside in 3 of (3) & remain supported in 3, 7 or 11 swings pullback to resume rally in extended wave ((3)).
LLY – Elliott Wave Weekly View From 8.14.2023:
In Weekly sequence, it finished II of (III) at $101.36 low in October-2019. It favors higher in third wave extension in III & favors upside in (3) of ((3)) of III towards $869.47 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 Latest Weekly View:
Above ((2)) low, it ended (1) of ((3)) at $629.97 high & (2) at $547.61 low as 0.236 Fibonacci retracement. Within (1), it placed 1 at $469.87 high, 2 at $434.34 low, 3 at $601.84 high, 4 at $516.57 low & 5 as (1) at $629.97 high. It broke above (1) in January-2024, confirmed upside to be (3) of ((3)). It expects (3) of ((3)) to extend towards $869.47 or higher levels before correcting in (4). We like to buy the pullback in 3, 7 or 11 swings at extreme areas, when reached.
Source: https://elliottwave-forecast.com/stock-market/lly-continue-bullish-rally/