Sunday, November 04, 2007

LLY Analysis for 11.04.2007

ELI LILLY - LLY

Monthly chart shows consolidation range since 2004.

Weekly chart shows small double top and increased selling the last 4 weeks.

Daily chart shows buyers unable to close the gap. Sellers came out in force on Thursday, gapping down the price at the open, and selling into the close. Friday saw continued weakness. Look for test of the $44 low and possibly lower.

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