LLY Technical Analysis & Options Trading Insights - Hot on Radar
Price Action Overview
LLY continues to show strength with a clear upward trajectory. The stock is trending within a rising channel on the hourly timeframe, supported by increased volume. It recently tested the upper boundary of the channel around $825 and showed resilience, suggesting strong bullish sentiment. MACD and Stochastic RSI indicate overbought conditions, signaling caution for new buyers at current levels.
Support and Resistance Levels
* Immediate Resistance: $830 (recent high and near the 2nd CALL Wall on GEX)
* Key Support Levels:
* $814 (channel mid-line and prior consolidation area)
* $800 (psychological level)
* $774 (HVL support level from GEX)
Options GEX Analysis
* Highest Positive NETGEX/Call Wall: $830
* 2nd CALL Wall: $825 (current area of interest)
* PUT Walls:
* $720 (significant put support)
* $700 (third support level with strong gamma influence)
Trading Plan
1. Bullish Scenario:
* Entry: Near $814 (pullback to mid-channel support) or $825 (breakout above resistance).
* Target: $830 and then $840 (measured move based on channel projection).
* Stop-Loss: Below $810 to mitigate downside risk.
2. Bearish Scenario:
* Entry: If the price fails to hold $814 and breaks below $810.
* Target: $800 and $774.
* Stop-Loss: Above $818 to control losses in a false breakdown.
Options Trading Suggestions
* Bullish Setup:
* Buy Call: Strike $820, Expiry 2-3 weeks out.
* Spread: Bull Call Spread $820/$830 to reduce risk.
* Bearish Setup:
* Buy Put: Strike $810, Expiry 2-3 weeks out.
* Spread: Bear Put Spread $810/$800.
Thoughts on Direction
The strong trend and bullish momentum suggest further upside if LLY maintains its current channel. A breakout above $830 could accelerate the move to $840 or higher. However, watch for overbought signals in the short term and consider profit-taking if resistance holds.
Disclaimer
This analysis is for educational purposes only and does not constitute financial advice. Price levels and market conditions may change in premarket or during trading hours. Adjust trading strategies accordingly, and for specific questions, feel free to reach out. Always conduct your own due diligence and manage risks responsibly.
LLY continues to show strength with a clear upward trajectory. The stock is trending within a rising channel on the hourly timeframe, supported by increased volume. It recently tested the upper boundary of the channel around $825 and showed resilience, suggesting strong bullish sentiment. MACD and Stochastic RSI indicate overbought conditions, signaling caution for new buyers at current levels.
Support and Resistance Levels
* Immediate Resistance: $830 (recent high and near the 2nd CALL Wall on GEX)
* Key Support Levels:
* $814 (channel mid-line and prior consolidation area)
* $800 (psychological level)
* $774 (HVL support level from GEX)
Options GEX Analysis
* Highest Positive NETGEX/Call Wall: $830
* 2nd CALL Wall: $825 (current area of interest)
* PUT Walls:
* $720 (significant put support)
* $700 (third support level with strong gamma influence)
Trading Plan
1. Bullish Scenario:
* Entry: Near $814 (pullback to mid-channel support) or $825 (breakout above resistance).
* Target: $830 and then $840 (measured move based on channel projection).
* Stop-Loss: Below $810 to mitigate downside risk.
2. Bearish Scenario:
* Entry: If the price fails to hold $814 and breaks below $810.
* Target: $800 and $774.
* Stop-Loss: Above $818 to control losses in a false breakdown.
Options Trading Suggestions
* Bullish Setup:
* Buy Call: Strike $820, Expiry 2-3 weeks out.
* Spread: Bull Call Spread $820/$830 to reduce risk.
* Bearish Setup:
* Buy Put: Strike $810, Expiry 2-3 weeks out.
* Spread: Bear Put Spread $810/$800.
Thoughts on Direction
The strong trend and bullish momentum suggest further upside if LLY maintains its current channel. A breakout above $830 could accelerate the move to $840 or higher. However, watch for overbought signals in the short term and consider profit-taking if resistance holds.
Disclaimer
This analysis is for educational purposes only and does not constitute financial advice. Price levels and market conditions may change in premarket or during trading hours. Adjust trading strategies accordingly, and for specific questions, feel free to reach out. Always conduct your own due diligence and manage risks responsibly.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.