Eli Lilly Stock Has The Technicals: Will Q1 Earnings Deliver Fundamentals?

Eli Lilly And Co LLY will be reporting its first-quarter earnings on Thursday. Wall Street expects $3.05 in EPS and $12.67 billion in revenues as the company reports before market hours.

The stock is up 14.35% over the past year, 14.79% YTD.

Let’s examine the charts for Eli Lilly stock and how it currently compares to Wall Street estimates.

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LLY Stock Chart Strongly Bullish Ahead Of Q1 Earnings

Chart created using Benzinga Pro

Eli Lilly’s stock is flashing a strongly bullish technical setup, with its stock at $896.20, trading well above key moving averages across the board. Specifically, the company’s stock is comfortably positioned above its five-day, 20-day and 50-day exponential moving averages, signaling firm upward momentum and sustained buying interest.

The stock also trades above its eight-day simple moving average (SMA) of $859.74, its 20-day SMA of $798.34 and its 50-day SMA of $834.64 – all clear bullish signals indicating technical strength.

Adding further support, Eli Lilly remains above its 200-day SMA of $844.59, a long-term bullish indicator watched closely by institutional investors. The Moving Average Convergence Divergence (MACD) reading stands at 18.97, reinforcing the bullish momentum with a positive divergence.

Meanwhile, the Relative Strength Index (RSI) of 64.49 shows the stock is not yet overbought, suggesting room for continued upside. For investors, the technical setup suggests confidence in the trend, with potential for further gains if broader market sentiment cooperates.

Eli Lilly Analysts See 3% Upside

Ratings & Consensus Estimates: The consensus analyst rating on Eli Lilly stock stands at a Buy currently with a price target of $945.70. The latest analyst ratings from HSBC, Cantor Fitzgerald and Guggenheim imply a 2.95% downside for Eli Lilly stock, with an average price target of $867.67.

Price Action: Eli Lilly stock was trading at $895.25 at the time of publication.

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