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...
This is @HHSPN, 's pick, apparently there's some good news.
Looking at 2W RSI ILMN is already very deep value assuming that the greater trend is to continue. It has only once been below current value back in 2011.
Thats said it looks like its going lower here to the blue band, also considering wicked rejection through resistance.
Its probably a good buy here...
Most biotechs are set to rally into 2023 following suppression and release of $XBI through institutional channels. Components inside of $XBI that initially contributed to its rise and gains over the years will be the source to start the process again.
Green Trend Line is a strong uptrend and has been seen as a position of support in past
I believe the drop could go further below as can be seen on the bottom Horizontal red line, these both are similar situations
Its either this or the Green Trend Line hodls
Close Above Level
Retest of Level (Bull Engulfing Candle) (Engulfs Previous Two Candles)
Bull Candle (Close Price = 386.59; High Price = 386.59)
Potential Reward:Risk Ratio
An ending diagonal starting from March 2020 is seen on the chart for ILLUMINA. This pattern usually signals exhaustion at the end of a bull cycle and the start of a bear market. As seen on the log scale (monthly or weekly), ILLUMINA has been slowly losing momentum for the past decade. Although it may be too early to call this, all long term investors of...
This can go either way. My overall market sentiment is bearish, which is why I am short. However, if somehow this is an extension of a new wave forming this looks like it has room to run and break upper channel.
Update soon to come.
Illumina had some surprisingly bullish price action earlier in the year. Now, after some consolidation, the bulls may be coming back.
The main feature on ILMN’s chart is the tight ascending triangle with a top around $457.50, which the stock is breaking today.
Next is the MACD cross on the weekly chart. This is potentially important because ILMN was...
This could be a triple bottom or an inverse head and shoulders depending on your interpretation. Seems today this broke out of both formations and had a failed attempt to get through a very nearby resistance at $431.19
I'm a buyer with a close at $432 or above but also wouldn't be surprised to see a slight pull back to the head and shoulders line of the $420...