Eli Lilly and Company… riding HARD!

Okay, enough puns. LLY is trending along nicely from a huge base formation and there might be a continuation play possible.

The 6 year base (cup and handle) as shown with the monthly candle chart below has broken out I early 2014.

lly_m

The weekly chart now shows some congestion along the way. If resolved to the upside, the arrow marks the first immediate target.

lly_w

We can pinpoint the action on the daily chart.

lly_d

This could be an opportunity for those already long to add more leverage. Final target 83 mark.

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