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Watch for Eli Lilly & Co to Potentially Rebound After Falling 2.26% Yesterday

By Shiri Gupta

Eli Lilly & Co (NYSE:LLY) traded in a range yesterday that spanned from a low of $108.95 to a high of $113.32. Yesterday, the shares fell 2.3%, which took the trading range below the 3-day low of $113.25 on volume of 3.1 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, shares of Eli Lilly & Co have traded between a low of $73.69 and a high of $116.61 and are now at $110.10, which is 49% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has risen 0.5%.

SmarTrend recommended that subscribers consider buying shares of Eli Lilly & Co on May 11th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $81.74. Since that recommendation, shares of Eli Lilly & Co have risen 38.7%. We continue to monitor LLY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders eli lilly & co

Ticker(s): LLY