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Bearish Moving Average Cross by Eli Lilly (LLY)

By Nick Russo

Today, shares of Eli Lilly (NYSE:LLY) have crossed bearishly below their 10-day moving average of $85.28 on a volume of 4.5 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Eli Lilly have traded between a low of $64.18 and a high of $92.85 and are now at $82.43, which is 28% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has slid 0.3%.

SmarTrend recommended that subscribers consider buying shares of Eli Lilly on February 1st, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $77.74. Since that recommendation, shares of Eli Lilly have risen 10.5%. We continue to monitor LLY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Eli Lilly

Ticker(s): LLY