Will the Rectangle hold or fail? Plot your targets on the chart.
Sideways movement between parallel supports.
Bearish continuation pattern.
Gradual reversal from bearish to bullish.
Bearish continuation if preceding move was down.
LLY is showing interesting structural developments at $922.5. The stock is trading at $922.5, down 0.76% on the day. Price action has carved out a classic Bearish Flag. The trend indicator is reading 9.0/100, suggesting moderate momentum. A potential breakout level is identified at $877.11, targeting $642.08 with support near $963.94 (R:R 2.71).
What is your outlook on LLY?