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Benzinga

Benzinga

When stocks rally, they tend to run into resistance if they reach a price level that had been resistance before. Here's why this happened with Eli Lilly and Co

Benzinga
Summary
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53% Informative

Eli Lilly hit resistance when it reached the $ 955 level in July .

Then after a sell-off and reversal, it ran into resistance again at the same price in August .

Many of the people who bought Lilly when it was at resistance in July regretted their decision to do so when the price moved lower.