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Bearish Moving Average Cross by Illumina (ILMN)

By Nick Russo

Today, shares of Illumina (NASDAQ:ILMN) have crossed bearishly below their 10-day moving average of $178.26 on a volume of 135K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Illumina have traded between a low of $25.57 and a high of $242.37 and are now at $177.48, which is 594% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.2% while the 50-day MA has declined 0.8%.

SmarTrend recommended that subscribers consider buying shares of Illumina on January 6th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $139.64. Since that recommendation, shares of Illumina have risen 28.3%. We continue to monitor ILMN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses illumina

Ticker(s): ILMN