INDIANAPOLIS – Eli Lilly and Company (LLY) stock is showing significant strength in pre-market trading on Monday, June 24th, setting the stage for a potentially bullish start to the week. However, a closer look at the previous session’s wild price swings reveals key levels that traders must watch closely.
Here is a detailed breakdown of the critical information for anyone trading or investing in Eli Lilly stock today.
Today’s Pre-Market Snapshot
As of 7:12 am GMT-4, ahead of the market open, Eli Lilly stock was trading at
6.86 (0.89%) from its previous close, indicating strong buying interest before the opening bell.
This positive pre-market action suggests that momentum from the previous session is carrying over and the stock is likely to open higher on Monday.
Review of Previous Trading Session: A Tale of Two Halves
The last trading day was a rollercoaster for Eli Lilly investors, providing crucial clues for today’s price action:
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Positive Close: The stock finished the day at
7.91 (1.04%).
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Massive Opening Spike: After opening at
793.21**.
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Sharp Reversal: This initial rally was met with heavy selling pressure, causing the stock to fall throughout the morning to a low of $763.83.
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Slow Recovery: The stock then spent the rest of the afternoon grinding its way back up, closing near its opening price.
This intraday chart shows that while the stock closed in the green, there is significant resistance near the $793 level.
Key Data for Traders
Here are the essential metrics from the market summary that traders should have on their screens:
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Previous Close: $770.64
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Pre-Market Price: $777.50 (+0.89%)
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Day’s Range (Previous Session): $763.83 (Low) – $793.21 (High)
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52-Week High: $972.53
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52-Week Low: $677.09
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P/E Ratio: 62.65
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Dividend Yield: 0.78%
Market Outlook: Will the Stock Go Up Today?
Based on the available data, the outlook is cautiously optimistic with clear battle lines drawn.
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The Bullish Case: The strong pre-market gain points to a higher open. If buyers can maintain control and push the price past the previous session’s high of $793.21, it could trigger a new wave of buying.
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The Bearish Case: The sharp rejection from the $793 level on Friday is a major warning sign. This price point has now been established as a significant short-term resistance level. A failure to break this level could see the stock pull back again. The high P/E ratio of 62.65 also suggests that high growth expectations are already priced in, making the stock vulnerable to profit-taking.
Is It the Right Day to Invest?
For traders, today presents a clear test of momentum versus resistance.
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Aggressive Traders: Might interpret the pre-market strength as a signal to go long, targeting a break of the $793 resistance.
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Cautious Investors: May prefer to wait for confirmation. A sustained move above $793 would be a strong bullish signal, while a rejection from that level could offer a better entry point at a lower price, potentially near the previous day’s support around the low $760s.
Eli Lilly stock is poised to open higher on Monday, but the real test will be whether it has the strength to overcome the significant selling pressure seen at the $793 mark. Traders should watch the opening price action and trading volume carefully. A decisive break of that resistance could signal further upside, but a failure could lead to another volatile, range-bound day.
Disclaimer: This article is for informational purposes only and is based on the analysis of a single screenshot. It does not constitute financial advice. All investment decisions should be made with the consultation of a qualified financial advisor and after conducting your own thorough research.
