The Greedy Trader Weekly Analysis
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Weekly Price vs. Fibonacci:Near 50.0% retracement level
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Stock market trading indicator and technical analysis stock screen presents technical stock market timing signals for technical investment analysis like screen stochastic or moving average trading system.. Screen includes following popular indicators and trading systems: Relative Strength Index (RSI), Williams' Percentage Range (W%R) and Lane's Stochastic (%D–Slow), moving average, macd convergence divergence, bullish and bearish divergence. For the best result different technical indicators should be analyzed in different time frames together with trend analysis, sector/industry ranking and stock timing alerts.

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- 4/5/2024 -
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Illumina Inc (ILMN) Technical Analysis

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Summary:
Weekly :Oversold industryBroken trend support line
Daily :Daily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARLane's Stochastic oversoldWilliams' Percentage Range is strongly oversoldThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the Illumina Inc (ILMN). During the week, the ILMN dropped -9.57 points, or -6.97%, and closed at 127.75 on Friday, April 5, 2024. It was the worst weekly loss since February 23, 2024. ILMN was trading at average weekly trading volume.

ILMN is a member of Biotechnology Industry. Biotechnology is the seventh most oversold industry. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See ILMN long-term trend chart]
A long-term uptrend had started on November 10, 2023 at 89.01 and reached 148.19 on January 31, 2024. ILMN gained -59.18 points, or -66.49%, in 11 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (183.44) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. ILMN may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a long-term trend.

Medium-term trend: [See ILMN medium-term trend chart]
A medium-term downtrend had started on January 31, 2024 at 148.19 and reached 123.66 on April 5, 2024. ILMN lost 24.53 points, or 16.55%, in 9 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 123.58 and resistance is at 141.57. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See ILMN weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since December 8, 2023. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.

Short-term trend: [See ILMN short-term trend chart]
A short-term downtrend had started on March 21, 2024 at 144.19 and reached 123.66 on April 5, 2024. ILMN lost 20.53 points, or 14.24%, in 15 days. The price is now at the 19.92% retracement level.

Daily Technical Indicators: [See ILMN daily technical indicators chart]
Daily Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Lane's Stochastic or strongly oversold daily Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 50.03
Williams' Percentage Range (W%R) 93.20
Strong Oversold
Lane's Stochastic (%D-Slow) 11.73
Oversold
Greed/Fear Indicator (GFI) 22.84
Moving Average Converg./Diverg. (MACD) -1.40
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 43.52
Williams' Percentage Range (W%R) 39.10
Lane's Stochastic (%D-Slow) 32.09
Greed/Fear Indicator (GFI) 46.30
Moving Average Converg./Diverg. (MACD) -6.24
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 151.76
Monthly Trendline Resistance 141.57
Parabolic System 141.06
Upper Bollinger Band 140.72
50 Day Moving Average 137.31
20 Day Moving Average 132.68
Weekly Stochastic Crossing 130.69
Price 127.75
Daily Stochastic Crossing 124.96
Lower Bollinger Band 124.84
Monthly Trendline Support 123.58
Sector and Industry
Description Name Rank
Sector Health Care 4
Industry Biotechnology 7
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 140.07
High Date 03/28/2024
Low 123.66
Low Date 04/05/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 144.19
High Date 03/21/2024
Low 123.66
Low Date 04/05/2024
Description Value
Direction Down
Chart Pattern Falling Channel
Status Valid
Resistance 141.57
Support 123.58
High 148.19
High Date 01/31/2024
Low 123.66
Low Date 04/05/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 151.76
Support 183.44
Low 89.01
Low Date 11/10/2023
High 148.19
High Date 01/31/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 555.77
High Date 02/12/2021
Low 89.01
Low Date 11/10/2023
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.