Palo Alto Networks , Eli Lilly , and Eaton rallied hard over the past 12 months — up 127%, 117% and 66%, respectively.
This $315 level is also close to the 50-day simple moving average (red line).
Eli Lilly Two potential entry points: $617 (the 50-day simple moving average) and $541 (the 200-day simple moving average) The 50-day simple moving average is $617, a roughly 16.5% pullback from current levels, while the 200-day simple moving average is $541, a 27% decline.
Instead, keep a close eye on that 50-day moving average, looking for that gap between the moving average and the stock price to narrow.
As we can see, $242 represents the current 50-day moving average, with $240 representing a level of resistance shares recently surpassed.
Persons:
Eli Lilly, Eaton, it's, pullbacks, PANW, Mounjaro, they've, Jim Cramer's, Jim Cramer, Jim, George Frey
Organizations:
Palo Alto Networks, Big Tech, Palo Alto, Jim Cramer's Charitable, CNBC, Bloomberg, Getty
Locations:
Provo , Utah