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Eli Lilly & Co Falls 1.95% on Heavy Volume: Watch For Potential Rebound

By Shiri Gupta

Eli Lilly & Co (NYSE:LLY) traded in a range yesterday that spanned from a low of $141.12 to a high of $142.93. Yesterday, the shares fell 2.0%, which took the trading range below the 3-day low of $144.53 on volume of 2.5 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Eli Lilly & Co share prices have been bracketed by a low of $101.36 and a high of $147.87 and are now at $143.21, 41% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.3% while the 200-day MA has risen 0.6%.

SmarTrend is tracking the current trend status for Eli Lilly & Co and will alert subscribers who have LLY in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders eli lilly & co

Ticker(s): LLY