Illumina +3.83%: Tests $132 Resistance
$Illumina(ILMN)$
Illumina (ILMN) Surged +3.83%: Genomics Leader Tests $132 Resistance, Bullish Momentum Building
Latest Close Data
ILMN closed at $132.13 (+3.83%) on Dec 10, reaching intraday high of $135.83.
Stock sits 13.7% below 52-week high of $153.06, showing strong recovery from $68.70 yearly low.
Core Market Drivers
Strong capital inflow of $7.5M on Dec 8 signals institutional confidence in genomics sector recovery.
Volume surged 3.27x average with $427M in trading value, indicating heightened interest in DNA sequencing technology stocks.
Technical Analysis
RSI(6) at 71.58 shows overbought conditions but maintains bullish momentum.
MACD remains negative at -0.84 but DIF line trending upward at 4.89, suggesting potential bullish crossover ahead.
KDJ at 62.21 indicates continued upward pressure.
Key Price Levels
Primary Support: $97.79
Immediate Pivot: $127.25 (previous close)
Strong Resistance: $132.19 (yesterday's resistance now tested)
Next Target: $135.83 (today's high)
Valuation Perspective
Trading at P/E 29.62x vs biotech sector average ~35x, with P/S ratio of 4.71x. Forward PE at 27.02 suggests reasonable valuation for growth expectations in precision medicine market.
Analyst Targets
19 analysts coverage: 6 Strong Buy, 3 Buy, 9 Hold. Average target $121.06 (range $80-$195), indicating current price trading above consensus but within bullish range.
Weekly Outlook
Expect consolidation between $127-$136 range. Break above $135.83 could target $145 zone. RSI overbought suggests potential pullback to $125 support before next leg up.
Risk Disclaimer
This analysis is for informational purposes only and should not be considered investment advice. Past performance does not guarantee future results.
For SG users only, Welcome to open a CBA today and enjoy access to a trading limit of up to SGD 20,000 with unlimited trading on SG, HK, and US stocks, as well as ETFs.
🎉Cash Boost Account Now Supports 35,000+ Stocks & ETFs – Greater Flexibility Now
Find out more here.
Complete your first Cash Boost Account trade with a trade amount of ≥ SGD1000* to get SGD 688 stock vouchers*! The trade can be executed using any payment type available under the Cash Boost Account: Cash, CPF, SRS, or CDP.
Other helpful links:
💰Join the TB Contra Telegram Group to Get $10 Trading Vouchers Now🎉
How to open a CBA. How to link your CDP account. Other FAQs on CBA. Cash Boost Account Website.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
