Eli Lilly: Bearish Signals Loom Over Weight Loss Stock Ahead Of Q2 Earnings
Portfolio Pulse from Surbhi Jain
Eli Lilly (NYSE:LLY) is set to report its Q2 earnings with Wall Street expecting $2.70 EPS and $9.9 billion in revenues. Despite a strong performance over the past year, technical indicators suggest a bearish short-term outlook. The stock is trading below its 5, 20, and 50-day moving averages, and the MACD and RSI indicate potential downside risk. However, analysts maintain a Buy rating with a price target suggesting a 15% upside.
August 07, 2024 | 7:28 pm
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Eli Lilly is set to report Q2 earnings with expectations of $2.70 EPS and $9.9 billion in revenues. Despite strong past performance, technical indicators suggest a bearish short-term outlook. Analysts maintain a Buy rating with a price target indicating a 15% upside.
The stock is trading below its 5, 20, and 50-day moving averages, and the MACD and RSI indicate potential downside risk. This suggests a bearish short-term outlook despite the long-term bullish signal from the 200-day moving average. Analysts' price targets suggest a potential upside, but the immediate technical indicators are more likely to influence short-term price movements.
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