vlad.adrian
Short

Illumina - Weekly chart setting up for a downtrend

NASDAQ:ILMN   ILLUMINA INC
166 0 2
I saw a few of weeks ago a chart of this stock posted by another user, and it looked very bearish . The correction was pretty light, when you have such a divergence on a double top heavy corrections follow. I believe that shorting this stock is the way to go. The double top is still there, the divergence on the MACD and FI             is still there. The pattern on the Weis Wave is bearish . Right now I believe we are rallying on little demand, and entering is tricky. If I could, I would buy a put option, cause I'm not sure with the timing. I believe lower prices are coming during the following months.

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