INDIANAPOLIS – Shares of pharmaceutical giant Eli Lilly And Co. (NYSE: LLY) experienced a significant sell-off on Thursday, tumbling by 2.47% in a session dominated by sellers. The stock closed at
19.67 from its previous close.
The trading day began on a volatile note. After opening at $795.80, the stock briefly surged to a high of
774.64** before finding some stability in the final hours of trading.
This negative sentiment bled into the post-market session, where the stock drifted slightly lower by another
775.15, indicating that the downward pressure had not yet fully subsided by the end of the day.
Will the Market Go Up or Down on Monday?
The Bearish Case (Market Down): The evidence from Thursday’s session points strongly towards continued weakness. The stock spent the entire day in a downtrend after the initial failed rally, and closing near the day’s low is a classic bearish signal. It suggests that sellers remained in firm control into the bell. If this momentum continues, the stock could break below its recent low of $774.64 and seek lower support levels at the start of the new week.
The Bullish Case (Market Up): The only silver lining for bulls is that the stock stopped falling and managed to consolidate around the $775 level in the late afternoon. This could be interpreted as the formation of a short-term support base. After a sharp one-day drop, some bargain hunters or short-sellers taking profits might step in, providing a temporary “oversold” bounce. A positive catalyst or a broader market rally could help the stock reclaim some of its losses.
The outlook for Eli Lilly on Monday is decidedly bearish. The strong, session-long selling pressure and the failure to mount any meaningful recovery suggest the path of least resistance is lower.
The critical level to watch at Monday’s open will be the day’s low of
780 with conviction. Investors should prepare for potential volatility as the market decides whether Thursday’s sell-off was a one-day event or the start of a deeper correction.
