Eli Lilly (LLY)

LLY - up almost 10% now.

Readers will see the loss of a lengthy ascending price channel.

Zooming in, readers wil see that with an hour to go in the regular session, LLY has not been able to take and hold its 50-day SMA. A rejection at this level could be more significant than some investors might realize as this is where much of the professional money might be. Holding onto the 21-day-EMA could mean the the swing crowd is on board and could create fertile ground for a basing period of consolidation.