Send me real-time posts from this site at my email

Eli Lilly (LLY) Recently Broke Out Above the 50-Day Moving Average

After reaching an important support level, Eli Lilly (LLY) could be a good stock pick from a technical perspective. LLY surpassed resistance at the 50-day moving average, suggesting a short-term bullish trend.

The 50-day simple moving average is a widely used technical indicator that helps determine support or resistance levels for different types of securities. It's one of three major moving averages, but takes precedent because it's the first sign of an up or down trend.

Over the past four weeks, LLY has gained 5.2%. The company is currently ranked a Zacks Rank #3 (Hold), another strong indication the stock could move even higher.

The bullish case only gets stronger once investors take into account LLY's positive earnings estimate revisions. There have been 5 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.

Investors may want to watch LLY for more gains in the near future given the company's key technical level and positive earnings estimate revisions.


Breakout Biotech Stocks with Triple-Digit Profit Potential

The biotech sector is projected to surge beyond $2.4 trillion by 2028 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.

Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Recommendations from previous editions of this report have produced gains of +205%, +258% and +477%. The stocks in this report could perform even better.

See these 7 breakthrough stocks now >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Eli Lilly and Company (LLY): Free Stock Analysis Report
 
To read this article on Zacks.com click here.

Welcome! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue