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Watch for Illumina to Potentially Pullback After Gaining 2.55% Yesterday

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.

In the past 52 weeks, Illumina share prices have been bracketed by a low of $25.57 and a high of $242.37 and are now at $175.61, 587% 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 23.1%. We continue to monitor ILMN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders illumina

Ticker(s): ILMN