Chart of Day: FDA Decision Could Send Stock Soaring

You are receiving this email because you are subscribed to Daily Guru Trades. If you no longer wish to receive these emails, please unsubscribe here. Oversold shares of Eli Lilly (SYM: LLY) could easily bounce higher on sales of its obesity drugs, which are still seeing considerable demand. And it could easily bounce higher with its Zepbound drug being considered for the treatment of sleep apnea. In June, the company said "results from its phase 3 SURMOUNT-OSA study, which found that Zepbound at the 10-mg and 15-mg doses aced all primary and secondary endpoints in obese patients with obstructive sleep apnea (OSA), both with or without positive airway pressure (PAP) therapy," as noted by FiercePharma.com. If LLY can get US FDA approval for this, it could help the 80 million Americans who currently struggle with obstructive sleep apnea. At the moment, LLY expects a US FDA decision before the year is over. The agency already gave LLY a fast-track designation for it. Technically, LLY is oversold at its 100-day moving average. It's also over-extended on RSI, MACD and Williams' %R, as it trades at $807.79. Initially, I'd like to see a retest of $950. Did you miss yesterday's Chart of the Day? Click here to view it now. DC2 Publishing LLC 4260 NW 1st Avenue Suite # 55 Boca Raton, FL 33431 – 4264   Copyright © 2023 Daily Guru Trades, All rights reserved. You are receiving this email as part of your subscription to Daily Guru Trades. If you have any questions, please contact us at support@dailygurutrades.com. Daily Guru Trades is a newsletter offered to the public on a subscription basis. While subscribers receive the benefit of Daily Guru Trades opinions, none of the information contained therein constitutes a recommendation from Daily Guru Trades that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. 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