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After Yesterday's Rally of 1.04% Shares Could Potentially Pullback

By David Diaz

Eli Lilly (NYSE:LLY) traded in a range yesterday that spanned from a low of $82.22 to a high of $83.68. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $82.76 on volume of 1.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Eli Lilly share prices have been bracketed by a low of $64.18 and a high of $92.85 and are now at $83.23, 30% 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 is tracking the current trend status for Eli Lilly and will alert subscribers who have LLY in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders Eli Lilly

Ticker(s): LLY