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Downtrend Broken Resist.Archive
- 10/23/2026 -
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Illumina Inc (ILMN) Technical Analysis
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| Summary:
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| | It was a first positive week for the Illumina Inc (ILMN). During the week, the ILMN gained 6.88 points, or 2.62%, and closed at 269.42 on Friday, October 23, 2026. Weekly volume was -11% below average.
ILMN is a member of Health Care Sector. Health Care is the most overbought sector. 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 April 9, 2025 at 68.70 and reached 309.35 on October 6, 2026. ILMN gained -240.65 points, or -350.29%, in 77 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (145.08) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 resistance line in a long-term trend.
 Medium-term trend: [See ILMN medium-term trend chart]
A medium-term uptrend had started on February 12, 2026 at 112.65 and reached 309.35 on October 6, 2026. ILMN gained -196.70 points, or -174.61%, in 33 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 137.15 and resistance is at 324.28. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See ILMN weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. 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 link to access Lane's Stochastic help.
The weekly MACD line is above its signal line since May 8, 2026. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.
 Short-term trend: [See ILMN short-term trend chart]
A short-term uptrend had started on October 8, 2026 at 254.00 and reached 286.40 on October 21, 2026. ILMN gained -32.40 points, or -12.76%, in 13 days. The chart has formed a Rising Channel chart pattern. The trend support level is at 262.79 and resistance is at 287.31. A Rising 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 Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a short-term trend.
 Daily Technical Indicators: [See ILMN daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since October 7, 2026.
 Candlestick pattern: [See ILMN candlestick chart pattern]
On Friday the chart has formed a Bullish Meeting Lines Candlestick pattern. This pattern appears during a decline, and it is a sign that a potential bullish reversal is in play. The reliability of the Bullish Meeting Lines Candlestick pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bullish Meeting Lines Candlestick pattern during the last week.
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