$LLY - Dead Cat or Sustainable Bounce?
$Eli Lilly(LLY)$ - Dead Cat or Sustainable Bounce?
One thing is certain: Price will rejoin to the Bollinger range.
On the other hand, bearish gaps are usually filled, and yesterday's move closed a bullish gap from the latest earnings report.
Watch the volume yesterday validating a bullish reversal candle, also the bullish crossover in Stochastic. Risk reward favors longs at this point.
$Invesco QQQ(QQQ)$ Elevator Down: If the 50DMA and Volume Shelf are lost (zone highlighted with the green arrow)
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Learn about the theory of trading based on stages, often referred to as market cycle analysis.
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