ILLUMINA INC (ILMN) Stock Technical Analysis
NASDAQ:ILMN - Nasdaq - US4523271090 - Common Stock - Currency: USD
Overall ILMN gets a technical rating of 2 out of 10. In the past year, ILMN was a below average performing stock in the market. The medium term picture is also negative, but we see some improvement happening in recent action.
Although the technical rating is bad, ILMN does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 83.62. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 79.40, a Stop Loss order could be placed below this zone.
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69.60
When analyzing the support we can see 2 important areas.
- A support zone ranging from 77.65 to 79.40. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 70.30 to 71.20. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 83.62 to 84.81. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | DOWN | NEGATIVE | The long term trend for ILMN is down. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for ILMN is up. |
| ChartMill Relative Strength | 22.3 | NEGATIVE | ILMN has a low relative strength, it was outperformed by 77.7% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of ILMN is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of ILMN is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of ILMN is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 55.14 | NEUTRAL | The RSI value for ILMN is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.39 | POSITIVE | The MACD value suggests ILMN has a positive trend. |
| Stochastics (14,3) | 65.59 | NEUTRAL | The Stochastics value for ILMN is a neutral value. |
| Average True Range in percent/ATR (20) | 3.85 | MEDIUM VOLATILITY | The ATR as a percentage value for ILMN suggests some volalility. |
| Average Directional Index/ADX (14) | 16.15 | NEGATIVE | The low ADX value for ILMN suggests a weak or negative trend. |
82.49
+2.12 (+2.64%)