One of my favorite short-selling deals right now, guys, is this one. Eli Lilly. Eli Lilly again, if you go to your monthly chart, you would swear and I would swear that this is an AI stock, but it is actually a pharmaceutical stock.
A major movement recently in artificial intelligence. Look at this upward movement here: while the AI trade was collapsing, Eli Lilly rose to new record highs. A small "Doji" candlestick was recorded on Friday, which could be a reversal signal.
Once again, there is a possibility of a decline beginning. I'll be watching for a drop to around 1290 here. Bridging this gap also represents the peak of this pivot point here, isn't it?
So again, bridge the gap there and then that pivot point there. A classic pullback opportunity seems likely in Eli Lilly's stock setup .