After bad guidance and downgrades, $ILMN was destined to fall. My theory for initiating a swing trade is the selling was too overdone. This is not a long-term "long" but an idea for a short-term "long". I think it is very likely to recover to the 200 EMA (purple line) but watch there is a daily trend line (black line) which will likely be strong resistance too....
The major damage has been done in NASDAQ:ILMN but further damage is very possible, those that bought the dip today got no reward and will have a anxious wait on monday to see if more downgrades will follow. It will take some time before investors will rush back into the stock as it still carries a very hefty valuation.
The genetics company expects to report...
Bullish to neutral.
I placed this spread earlier today. This stock has been lagging yet bullish move is strong for now, this is the reason for a bull put spread, so I can use some of this bullish move, but also if it retraces I can still profit.
A lot of buying and selling today. If current trend continues we will touch oversold conditions soon and that could be the reversal of this correction. I will be keeping an eye on what happens at the support levels drawn, and trend line resistance, before deciding if I keep or sell my long position.
ILLUMINA INC IS A CUTTING EDGE HEALTHCARE TECHNOLOGY COMPANY THAT SPECIALIZING IN THE DEVELOPMENT AND MANUFACTURE OF INTEGRATED SYSTEMS FOR ANALYSIS OF GENETICS VARIATION AND FUNCTION .
A MASSIVE GROWTH AREA WITH HUGE FINANCIAL GAINS. WE ARE AWAITING A BREAK OF $330 IN INITIATE A LONG POSITION.
This is highly state of the art gene analytics company. Their devices are used by 123 and me and many more. Adoption is huge. Go study this. Personally I think this will be trading over 1000 in next 2 years.
Play leap calls..cheaper this way if you cannot own shares.
Marked the short term prices.
If a dumb, uneducated guy like me can read and trade then you...