Shares of Eli Lilly are surging this morning. The stock’s 8% news inspired: Why Eli Lilly Shares Are Rising Today (msn.com), rise puts atop the $SPX gainers list. This powerful move could spark quite a fresh rally leg.
LLY began consolidating in a narrowing range shortly after its early August post earnings ramp. A clear break above the $276.00 area(Aug. peak) would resolve this healthy pattern to the upside.
LLY is far from overbought. Daily MACD is turning up just below neutral. Volume is running heavy in the early going.
Not a recommendation to buy, sell or hold.