Will the Descending Triangle hold or fail? Plot your targets on the chart.
Bearish continuation pattern.
Technical analysis of Lilly (Eli) (LLY) reveals a significant setup. The stock is trading at $935.58, down 1.98% on the day. The primary technical feature is a Descending Triangle formation. The trend indicator is reading 20.3/100, suggesting moderate momentum. A potential breakout level is identified at $877.11, targeting $689.77 with support near $976.68 (R:R 1.88).
What is your outlook on LLY?