Trading Illumina $ILMN With Integrated Risk Controls

November 14, 2023, 15:45 pm ET, BY James G.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for ILMN

• NONE. Details

There is no current Support Plan to trigger a buy of this stock at this time. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. Buy signals only exist if resistance breaks higher.
This often is a signal that the stock you are watching is weak. Waiting for a turn higher may be more intelligent than trying to catch a falling knife. In any case, new support levels are usually revised to the database at the beginning of the next trading session.

• Short ILMN slightly under 113.57, target n/a, stop loss @ 113.9 Details

The technical summary data is suggesting a short of ILMN as it gets near 113.57, but the downside target is not available from the current data. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped. The summary data tells us to have a stop loss in place at 113.9. 113.57 is the first level of resistance above 97.76, and by rule, any test of resistance is a short signal. In this case, if resistance 113.57 is being tested, so a short signal would exist.

Swing Trading Plans for ILMN

• Buy ILMN slightly over 107.67, target 113.57, Stop Loss @ 107.36 Details

If 107.67 begins to break higher, the technical summary data tells us to buy ILMN just slightly over 107.67, with an upside target of 113.57. The data also tells us to set a stop loss @ 107.36 in case the stock turns against the trade. 107.67 is the first level of resistance above 97.76, and by rule, any break above resistance is a buy signal. In this case, 107.67, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short ILMN slightly near 107.67, target 97.55, Stop Loss @ 107.98. Details

The technical summary data is suggesting a short of ILMN if it tests 107.67 with a downside target of 97.55. We should have a stop loss in place at 107.98 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 107.67, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for ILMN

• Buy ILMN slightly over 101.81, target 107.67, Stop Loss @ 101.57 Details

If 101.81 begins to break higher, the technical summary data tells us to buy ILMN just slightly over 101.81, with an upside target of 107.67. The data also tells us to set a stop loss @ 101.57 in case the stock turns against the trade. 101.81 is the first level of resistance above 97.76, and by rule, any break above resistance is a buy signal. In this case, 101.81, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short ILMN slightly near 101.81, target 97.55, Stop Loss @ 102.05. Details

The technical summary data is suggesting a short of ILMN if it tests 101.81 with a downside target of 97.55. We should have a stop loss in place at 102.05 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 101.81, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for Illumina (ILMN) available here: ILMN.

ILMN Ratings for November 14:

Term →	Near	Mid	Long
Rating	Weak	Weak	Weak
P1	0	0	113.57
P2	92.55	97.55	140.55
P3	101.81	107.67	166.63

AI Generated Signals for ILMN

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Price matters most to #makingmoney in the #stockmarket. Celebrating 20 years, Stock Traders Daily provides the tools that help you develop investment strategies, and this is a good example. When we couple this with our market based analysis, the probabilities of going with the flow increases, and that is material over time. The Illumina (NASDAQ: ILMN) report below can help you, but we have more details too. The trading plans for ILMN, and the other 1000+ stocks we follow, are updated in real time for subscribers, but this report is static. If you want an update, or a different report, please get one here Unlimited Real Time Reports.