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Watch These Eli Lilly Price Levels as Stock Slumps on Tepid Sales Outlook

1. Eli Lilly lowered 2024 revenue forecast, raising concerns for investors. 2. Shares fell sharply after a breakdown below key technical levels. 3. Key support at $720 and $625 identified; resistance at $860 and $965. 4. Weight-loss drug sales slower than expected, impacting financial outlook. 5. Stock down over 16% since October despite a 32% rise last year.

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FAQ

Why Bearish?

The lowered revenue forecast signals potential ongoing demand issues, similar to past performance trends.

How important is it?

The forecast downgrade could lead to further stock price declines, impacting investor confidence.

Why Short Term?

Immediate technical breakdown suggests potential further declines in the coming weeks.

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