ILMN - Inverse Head & Shoulders

NASDAQ:ILMN   Illumina, Inc.
Looking the huge volume accumulation in the last 3 days, there is a chance that ILMN is going to breakout of an inverse H&S neckline soon. So let's watch!

If it does break up, it should not retrace below the neckline again (if it does, consider this a failed inverse H&S).

Theoretical inverse H&S targe @ 308 (which incidentally is also the 38% fibonacci retracement of it's peak to bottom swing (AB)

Manage positions with trailing stops

Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!

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