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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- 4/19/2024 -
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Illumina Inc (ILMN) Technical Analysis

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Summary:
Weekly :Broken trend support lineOversold industryBroken trend support line
Daily :Williams' Percentage Range and Lane's Stochastic are oversold
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It was the negative week for the Illumina Inc (ILMN). During the week, the ILMN dropped -9.64 points, or -7.59%, and closed at 117.43 on Friday, April 19, 2024. It was the worst weekly loss since February 23, 2024. Weekly volume was -8% below average.

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 (192.98) 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 115.73 on April 18, 2024. ILMN lost 32.46 points, or 21.90%, in 11 weeks. The chart has formed a Falling Channel chart pattern. The downtrend support line (121.91) is broken. Usually a broken support is considered to be a long-term bearish 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 support 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 April 9, 2024 at 135.26 and reached 115.73 on April 18, 2024. ILMN lost 19.53 points, or 14.44%, in 9 days. The price is now at the 8.70% retracement level.

Daily Technical Indicators: [See ILMN daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range and Lane's Stochastic. 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.

The daily MACD line is below its signal line since April 11, 2024. This is an indication that the short-term trend is down.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 26.91
Williams' Percentage Range (W%R) 91.90
Strong Oversold
Lane's Stochastic (%D-Slow) 5.51
Strong Oversold
Greed/Fear Indicator (GFI) 13.49
Oversold
Moving Average Converg./Diverg. (MACD) -3.02
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 37.52
Williams' Percentage Range (W%R) 55.80
Lane's Stochastic (%D-Slow) 24.21
Greed/Fear Indicator (GFI) 36.94
Moving Average Converg./Diverg. (MACD) -5.63
Trading Signals
Description Value Chart
Upper Bollinger Band 140.21
Monthly Trendline Resistance 140.04
50 Day Moving Average 133.38
20 Day Moving Average 128.39
Parabolic System 125.10
Weekly Stochastic Crossing 122.73
Monthly Trendline Support 121.91
Price 117.43
Daily Stochastic Crossing 116.98
Lower Bollinger Band 113.07
Sector and Industry
Description Name Rank
Sector Health Care 3
Industry Biotechnology 7
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 135.26
High Date 04/09/2024
Low 115.73
Low Date 04/18/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 135.26
High Date 04/09/2024
Low 115.73
Low Date 04/18/2024
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Support
Resistance 140.04
Support 121.91
High 148.19
High Date 01/31/2024
Low 115.73
Low Date 04/18/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 152.55
Support 192.98
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.