Shares of Eli Lilly and Co (LLY) gapped higher today on news of promising results from their Phase 2 study of donanemab, an antibody that targets a modified form of beta amyloid called N3pG, for Alzheimer's disease (AD).
Let's check out the charts and indicators.
We last reviewed the charts of LLY back on September 22 and recommended that "Successful tests of a rising 200-day moving average line can be great entry points for longs. Traders could long LLY or add to longs at current levels risking a close below $145 or below the 200-day moving average line. Our price target for now is $200."