Stock Of The Day: Here's Why Weight-Loss Drug Maker Eli Lilly Has Reversed
Portfolio Pulse from Mark Putrino
Eli Lilly's stock (NYSE:LLY) has hit resistance at the $955 level, causing a reversal and decline in its price. This resistance is due to previous buyers selling at breakeven, creating a concentration of sell orders. The stock's movement highlights the importance of understanding investor psychology and resistance levels.
September 06, 2024 | 3:25 pm
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Eli Lilly's stock has encountered resistance at the $955 level, leading to a price reversal. This resistance is due to previous buyers selling at breakeven, creating a concentration of sell orders.
Eli Lilly's stock has hit a resistance level at $955, which it previously encountered in July. This resistance is formed by previous buyers selling at breakeven, leading to a concentration of sell orders. As a result, the stock has reversed and is likely to decline further in the short term.
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