Eli Lilly & Co.(ELI:NYSE) Elliott Wave Technical Analysis 24 January 24

[tradinglounge]

Eli Lilly & Co., Elliott Wave Technical Analysis

Eli Lilly & Co.,  (ELI:NYSE): 4h Chart 24 January 24

ELI Stock Market Analysis: Here we are looking at a potential bottom in place in wave (ii) as we are now looking for continuation higher. Looking for further upside and a break of wave b for confirmation.  

ELI Elliott Wave Count: Wave i of (iii)

ELI Technical Indicators: 20EMA as support.  

ELI Trading Strategy: Looking for longs after a break of b.  

TradingLounge Analyst: Alessio Barretta

 

 

 

 

 

Eli Lilly & Co., ELI: 1-hour Chart 24 January 24

Eli Lilly & Co., Elliott Wave Technical Analysis ELI Stock Market Analysis: Here’s the alternate count, with a more conservative view and wave (ii) still in the making, suggesting we are missing one more leg lower before resuming higher.  

ELI Elliott Wave count:  Wave b of (ii).  

ELI Technical Indicators: 20EMA as support.  

ELI Trading Strategy: Looking for a development of wave (ii).