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ILMN closes below its opening price unable to hold early session gains


Technical Analysis Report for ILMN - May 17, 2018 [< 1 min read]
Highlights
ILMN closes below its opening price unable to hold early session gains
ILMN closes within previous day's range after lackluster session
ILMN ends the day indecisive
TQ Sentiment
Technical Forecast:
Overview

ILMN ended Thursday at 268.45 edging lower $0.39 (-0.15%). Trading $2.58 higher after the open, the stock was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for ILMN
Volatility

Thursday's trading range was $4.13 (1.54%), that's below last trading month's daily average range of $7.06. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being way above average.

Support/Resistance

Prices are trading close to the key resistance level at 272.90.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

Buying could speed up should prices move above the close-by swing high at 272.90 where further buy stops might get activated. Selling could accelerate should prices move below the nearby swing low at 262.32 where further sell stops might get triggered.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Close to R1 Resistance TQ Pro Members Only
Bearish Intraday Reversal TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
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