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jaxdog

$ILMN Ready for a Base Break?

Long
Illumina, Inc. (NASDAQ:ILMN)  
jaxdog Updated   
NASDAQ:ILMN   Illumina, Inc.
Chart Patterns Technical Indicators Trend Analysis QQQ SPDR S&P 500 ETF (SPY) spq IWM Contains IO script
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Looking at this weekly chart it looks to me that sellers finally capitulated the week of November 13, 2023. Since then, it is mostly green accumulation, and it is holding price on lower and lower volume.

You can see the flat base as identified with the LevelUp chart. I had a position earlier this week and stopped myself out for no gain. I re-entered today in anticipation of the breakout around $150.

I like these early entries as I can set my stop just below the weekly low for a minimal risk to reward. It is one you may want on your watchlist.

Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.
Comment:
ILMN – Here is a look at the daily chart. It is holding the 5 DMA (white line) and is over all other Moving averages including the 50 DMA (red).

Make sure you trade “your” plan if looking at this one.

snapshot
Ideas I publish are my own. They are not meant to be investment / trading advice. You are encouraged to do your own due diligence.

I may or may not take any trade published and I am under no obligation to post any action or update to any idea.
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