The bearish DailyPlay we chose for Tuesday Nov 16th is Eli Lilly (LLY). LLY is part of the Healthcare Sector (XLV). Over the last month, XLV has experienced a 1.44% move higher but its 6m trend turned bearish on 11/11 but recently broke below its $71 support level.
Eli Lilly’s 6m trends turned bearish on 11/11 and recently broke below its $78 support level on high volume. With a technical score of 3 (out of 10), LLY looks positioned to continue this strong bearish trend lower.
As a stop loss, if LLY was to trade above $78 for multiple days, this would invalidate our analysis and suggest getting out of the trade.