Eli Lilly $LLY stock is trading in an uptrend channelUptrend and downtrend channel patterns are technical analysis tools used to identify potential future price movements. They are formed by two parallel lines on a chart and can be u... as of November 20, 2022. The stock turned higher on November 16, 2022, after two large dark pool buy orders occurred on Credit Suisse starting coverage of $LLY with an Outperform rating.
Two dark pool trades valued at $47 million and $50 million occurred in Eli Lilly stock on November 16, 2022. The dark pool trades occurred at $350 and $352.93. We think the dark pool trades were buying because Eli Lilly stock rose following the trades hitting the tape.
Make sure to review this lesson on dark pool trading so that you understand the chart above.
A narrative emerges that the dark pool buying had to do with Credit Suisse starting coverage of the $LLY stock with an Outperform rating.
Eli Lilly initiated with an Outperform at Credit Suisse
On November 17, 2022, Credit Suisse analyst Trung Huynh announced coverage of Eli Lilly with an Outperform rating and $395 price target. He expects Monjaro’s estimates to be revised upwards over time because of obesity salesThe income statement provides a summary of a company's revenue and expenses over a specified period of time, typically a year or a quarter. It shows the company's total revenue, th.... He sees a favorable setting for binary events with an upward bias in risk versus reward for donanemab in Alzheimer’s disease.
Eli Lilly price target raised at Truist
On November 15, 2022, Truist analyst Robyn Karnauskas raised her price target on Eli Lilly from $400 to $421 and maintained a buy rating on the stock. Karnauskas said Roche’s announcement that its Alzheimer’s drug trial had failed raised its outlook on rival Eli Lilly’s donunumab to 30 percent from 25 percent and its estimated global sales to $10 billion from $8 billion.
Eli Lilly Stock Technical Analysis
Eli Lilly $LLY stock is in a technical strong uptrend. Long-term indicators support a continuation of the uptrend. The stock is trading in an uptrend channel with an improving MACDThe MACD indicator is essentially a momentum indicator that shows the relationship between two different moving averages of price. The MACD is the difference between the 12-period ... and a positive money flow.
