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May 06, 2025
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Eli Lilly & Company (LLY) Favors Rally Targeting New Weekly High

Eli Lilly & Company (LLY) discovers, develops & markets human pharmaceuticals worldwide. It comes under Healthcare sector & trades as “LLY” ticket at NYSE.

LLY is bullish in weekly sequence from all time low. It favors rally in (V) after double correction ended at $677.09 low in April-2025 low. It favors rally to continue in (V) of ((III)) towards $1155 or higher levels against 4.07.2025 low. Further rally confirms above $972.53 high.

LLY - Elliott Wave Latest Weekly View: 

In weekly, it favors rally within the sequence from March-2009 low & expect one more push higher to finish it. In weekly, it placed (I) at $92.85 high in October-2015 & (II) at $64.18 low in November-2016. It ended extended (III) sequence at $972.53 high in August-2024 high & (IV) at $677.09 low as double correction. Within (III), it placed I at $130.75 high, II at $101.36 low, III at $966.10 high, IV at $747.55 low & V at $972.53 high. Below (III) high, it placed w as 3 swings at $711.40 low, x at $935.63 high & y at $677.09 low as (IV) on 4.07.2025.

LLY - Elliott Wave Latest Daily View: 

The double correction in (IV) missed the daily extreme area with small margin & turned higher. It ended ((1)) of I at $902.50 high & favors pullback in ((2)) against 4.07.2025 low. Further upside will confirm above $972.53 high & can extend towards $1155 or higher levels. Short term, it favors bounce in (B) of ((2)), which may fail below 4.30.2025 high before (C) down against 4.07.2025 low. As long as it stays above 4.07.2025 low, it should remain supported & rally to new high. Buyers can look to buy the next opportunities in 3, 7 or 11 swings, once it confirms new high.

Source:  https://elliottwave-forecast.com/stock-market/lly-favors-rally-targeting-new-weekly-high/ 

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