By Harry Boxer
Five stocks are setting up nicely for continued up-moves even in this volatile market.
Eli Lilly and Company /zigman2/quotes/200106384/composite LLY +3.15% has been doing great. During the last year and a half it has gone from the 47.00 range all the way up to Tuesday's high at 88.78. After last month's big run up and spike on heavy volume, the stock formed a nice, bullish falling wedge. It then popped and broke out, but there was no follow-through.
That was followed by another three-day pullback on low volume, and then up days in the last four sessions. On Tuesday, it popped out of the wedge, up 2.38 to 88.73, or 2.76%, on 6.9 million shares. It appears this stock wants to go to the low-to-mid 90.00s. Look for 95.00-96.00 as its target.
Check out Harry’s video analysis of this stock on the last page.