The Greedy Trader Weekly Analysis
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Downtrend Broken Resistance
Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.
Technical analysis of stock trend chart following long term trend analysis and trend following indicator for broken resistance trend trading. Stock trend analysis and broken resistance trend following indicators.
trend trading,trend following,stock trend chart,technical analysis of stock trend,trend following indicator,following long term trend,Broken Resistance

Illumina Inc (ILMN)

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Summary:
Weekly :Overbought sector
Daily :The price has fallen below the Parabolic SAR
Move cursor over the icon to see details.

It was the negative week for the Illumina Inc (ILMN). During the week, the ILMN dropped -8.97 points, or -4.38%, and closed at 195.89 on Friday, May 26, 2023. Weekly volume was 35% above average.

ILMN is a member of Health Care Sector. Health Care is the second 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 July 14, 2022 at 173.45 and reached 248.87 on November 11, 2022. ILMN gained -75.42 points, or -43.48%, in 17 weeks. The price is now at the 70.25% retracement level.

Medium-term trend: [See ILMN medium-term trend chart]
A medium-term downtrend had started on March 13, 2023 at 238.55 and reached 186.00 on May 25, 2023. ILMN lost 52.55 points, or 22.03%, in 10 weeks. The price is now at the 18.82% retracement level.

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

The weekly MACD line is below its signal line since May 12, 2023. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. 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 May 24, 2023 at 213.91 and reached 186.00 on May 25, 2023. ILMN lost 27.91 points, or 13.05%, in 1 days. The price is now at the 35.44% retracement level.

Daily Technical Indicators: [See ILMN daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is above its signal line since May 11, 2023. The distance between MACD and the signal line is low and getting smaller.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 50.13
Williams' Percentage Range (W%R) 70.60
Lane's Stochastic (%D-Slow) 58.68
Greed/Fear Indicator (GFI) 46.06
Moving Average Converg./Diverg. (MACD) -3.69
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 45.29
Williams' Percentage Range (W%R) 78.40
Lane's Stochastic (%D-Slow) 29.33
Greed/Fear Indicator (GFI) 32.99
Moving Average Converg./Diverg. (MACD) -2.43
Trading Signals
Description Value Chart
Upper Bollinger Band 216.41
50 Day Moving Average 214.83
Parabolic System 213.56
20 Day Moving Average 201.60
Daily Stochastic Crossing 200.67
Weekly Stochastic Crossing 197.80
Price 195.89
Lower Bollinger Band 193.40
Sector and Industry
Description Name Rank
Sector Health Care 8
Industry Biotechnology 60
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 213.91
High Date 05/24/2023
Low 186.00
Low Date 05/25/2023
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 238.55
High Date 03/13/2023
Low 186.00
Low Date 05/25/2023
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 182.00
Low Date 01/10/2023
High 238.55
High Date 03/13/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 173.45
Low Date 07/14/2022
High 248.87
High Date 11/11/2022
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 555.77
High Date 02/12/2021
Low 173.45
Low Date 07/14/2022
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.

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