Eli Lilly Bulls Take Charge Ahead Of Q4 — Can It Reach $1000?

Eli Lilly And Co LLY will be reporting its fourth-quarter earnings on Thursday. Wall Street expects $4.94 in EPS and $13.66 billion in revenues as the company reports before market hours.

The stock is up 19.23% over the past year, 8.22% YTD.

Let’s look at what the charts indicate for Eli Lilly stock and how the stock currently maps against Wall Street estimates.

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LLY Stock Strongly Bullish Ahead Of Q4 Earnings

 LLY stock is exhibiting strong bullish momentum, with its share price of $841.78 trading above the five-day, 20-day and 50-day exponential moving averages. This sustained buying pressure suggests continued upside potential.

Chart created using Benzinga Pro

LLY stock also remains above key short- and medium-term simple moving averages, further reinforcing the bullish trend.

LLY stock has also crossed over its 200-day simple moving average of $841.52. The stock has broken the resistance level and signals bullish momentum being set for the long term. The Moving Average Convergence Divergence indicator at 12.09 supports the bullish outlook, while the Relative Strength Index at 64.87 signals that the stock is approaching overbought territory but still has room for further gains.

Investors should monitor any new resistance level being created to assess the extent to which they can expect the bullish trend to extend further.

Eli Lilly Analysts See 27% Upside

Ratings & Consensus Estimates: The consensus analyst rating on Eli Lilly stock stands at a Buy with a price target of $955.21. The latest analyst ratings from Truist Securities, Wells Fargo and Citigroup imply a 26.97% upside for LLY stock, with an average price target of $1066.

LLY Stock Price Action: Eli Lilly stock was up 1.9% at $842.30 at the time of publication Wednesday.

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