USA Eli Lilly and Co, will the upward trend continue after the 'double bottom'? Caution is needed for the pullback 【Technical Analysis】

[One point lesson]
What is a double bottom?
▼A Candlestick pattern that indicates a bottoming out of stock prices.One of them.
▼It takes several months to nearly a year.This refers to a market where two valleys of similar depth are formed.
The depth of the valleys should be similar, though there is no standard for the margin of error. The mountains between them do not need to be clearly higher than the valleys.
▼A line extending horizontally from the mountain is called the "neckline".said.
After forming the second valley, the closing price has If it exceeds the neckline by more than 3% for more than two days, the pattern is considered complete.DueUptrend.It is determined that it has entered the pattern.
The immediate focus after the pattern is complete is two upper target prices can be considered.
The upper price target is the width from the neckline to the deepest valley added to the neckline (Figure: green part).
The price decline during the downward trend before the pattern formation is added to the level after completion (Figure: pink part).

Whether to continue pursuing the upper price or be at a crucial point of retracement.
In the case of Eli Lilly and Co,
①the upper price target is approximately 5% higher than the 5-day closing price.It will be $980.becomes.
②In this case, it is 4.2% higher than the closing price of 5 days.It will be $969.This price is.All-time high since listingIf it breaks above this level, it seems likely to gain further upward momentum.
However,It has already risen 10% from the neckline level.It is observed that in the last three trading days, the high price as of October 14, 2024, is also noted.The level is 933.824.Next,Resistance line.It seems that it has started to suppress the upside. According to the Single Option history, L players seem to be targeting the range between $800 and $930, and if it lingers around $930 for too long, caution must be taken regarding a decline. Even if it rises after completing a double bottom, Even if there is an increase after the completion of the double bottom, there is a possibility of a pullback movement that drops to the neckline, referred to as a 'return move.'However, there is a possibility that the upward trend will continue until the end of the year due to expectations for the Trump administration.When the return move occurs, a strategy can be considered to wait for a rebound at the neckline before entering.

The upward momentum is strong.
The trend signals appear early.EMA (Exponential Moving Average) Since early February of this year, the moving average line has been trending upwards, with the short-term (pink 5-day line), medium-term (green 25-day line and blue 75-day line), and long-term (yellow 200-day line) lines arranged in that order from the top."Perfect Order"has been completed.

EMA (Exponential Moving Average) refers to
the most representative among numerous moving averages. It is calculated using a simple formula (total price over n periods ÷ n) that results in a simple moving average (SMA).The lagging effectiveness has improved.The calculation gives more weight to prices that are closer to the recent ones.This allows for more agility in capturing trend reversals and such.。

94.44% of Analysts are Bullish.
The average Target Price among Analysts suggests an increase of 10.78% from the closing price on the 5th.This indicates an increase of 10.78%.It suggests a rise.1029 dollars. (Range 900 to 1190 dollars)