Trading Illumina $ILMN With Integrated Risk Controls

August 11, 2023, 05:15 am ET, BY Rick W.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for ILMN

• Buy ILMN slightly over 182.79 target 201.07 stop loss @ 182.26 Details

The technical summary data tells us to buy ILMN near 182.79 with an upside target of 201.07. This data also tells us to set a stop loss @ 182.26 to protect against excessive loss in case the stock begins to move against the trade. 182.79 is the first level of support below 185.12 , and by rule, any test of support is a buy signal. In this case, support 182.79 would be being tested, so a buy signal would exist.

• Short ILMN slightly under 201.07, target 182.79, stop loss @ 201.65 Details

The technical summary data is suggesting a short of ILMN as it gets near 201.07 with a downside target of 182.79. We should have a stop loss in place at 201.65though. 201.07 is the first level of resistance above 185.12, and by rule, any test of resistance is a short signal. In this case, if resistance 201.07 is being tested, so a short signal would exist.

Swing Trading Plans for ILMN

• Buy ILMN slightly over 188.82, target 201.07, Stop Loss @ 188.27 Details

If 188.82 begins to break higher, the technical summary data tells us to buy ILMN just slightly over 188.82, with an upside target of 201.07. The data also tells us to set a stop loss @ 188.27 in case the stock turns against the trade. 188.82 is the first level of resistance above 185.12, and by rule, any break above resistance is a buy signal. In this case, 188.82, 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 188.82, target 183.49, Stop Loss @ 189.37. Details

The technical summary data is suggesting a short of ILMN if it tests 188.82 with a downside target of 183.49. We should have a stop loss in place at 189.37 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, 188.82, 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 186.32, target 188.82, Stop Loss @ 185.89 Details

If 186.32 begins to break higher, the technical summary data tells us to buy ILMN just slightly over 186.32, with an upside target of 188.82. The data also tells us to set a stop loss @ 185.89 in case the stock turns against the trade. 186.32 is the first level of resistance above 185.12, and by rule, any break above resistance is a buy signal. In this case, 186.32, 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 186.32, target 183.49, Stop Loss @ 186.75. Details

The technical summary data is suggesting a short of ILMN if it tests 186.32 with a downside target of 183.49. We should have a stop loss in place at 186.75 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, 186.32, 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 August 11:

Term →	Near	Mid	Long
Rating	Weak	Neutral	Neutral
P1	0	0	182.79
P2	182.80	183.49	201.07
P3	186.32	188.82	219.69

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.