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SmarTrend Watching for Potential Pullback in Shares of Illumina After 2.55% Gain

By Amy Schwartz

Illumina (NASDAQ:ILMN) traded in a range yesterday that spanned from a low of $171.21 to a high of $176.30. Yesterday, the shares gained 2.6%, which took the trading range above the 3-day high of $176.11 on volume of 373,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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 23.1%. We continue to monitor ILMN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Illumina share prices have moved between a 52-week high of $242.37 and a 52-week low of $25.57 and are now trading 587% above that low price at $175.61 per share. The 200-day and 50-day moving averages have moved 1.17% lower and 0.77% lower over the past week, respectively.

Keywords: rebounders illumina

Ticker(s): ILMN