Previous chart is linked below.
On the weekly chart, there is a massive head and shoulders pattern which just keeps failing to break below the neckline. This was the 3rd attempt at a break below, and it looks to me like this is a clear rejection, again. In theory, when a H&S pattern fails to break, the target for it is the top of the head. However, I labeled a...
Illumina is bullish since 2012. We have seen a huge buying wave which started 2012 at 25 $ and reached till 240$ in 2015! After building this top, we can see a consolidation phase which reached down to the 0,5 fibo at 133,745$. Perhaps a Big Bearish H&S will be formed. The neckline is corresponding to the central Support Level. (TPs from this H&S could be: Min TO...
Buy - Sell? Good question , no matter how you decide, fact is, that we now are trading near a clear action Point: The three times tested support level @ ~ 130$
2 Trades are thinkable:
Buy the support @ 130 --> exspected TPs: 149 / 165
Sell the Break of the Tringle-Support @ 127-130 - exspected TP:100
A massive H&S pattern on the weekly chart, with a double bottom and double divergence right at the neckline. As of this week, the impulse is blue.
On the daily chart, the double bottom is more obvious. The right time to enter was right after earnings, where Illumina recovered all the overnight losses and closed up for the day. Still, the RRR is acceptable even...
Fundamentals:
Illumina-1.38% made a disappointing start to first-quarter 2016 missing the estimates. Also, rising costs has potential to hamper its growth significantly. This rise in higher operating expenses impacted Ilumina’s cash flow reserve in the reported quarter.
Technicals:
In the mid of summer 2015 the price of stock accelerated with top $242. But...
Fundamentals:
Illumina made a disappointing start to first-quarter 2016 missing the estimates. Also, rising costs has potential to hamper its growth significantly. This rise in higher operating expenses impacted Ilumina’s cash flow reserve in the reported quarter.
Technicals:
In the mid of summer 2015 the price of stock accelerated with top $242. But big,...
