Illumina Technical Analysis (NASDAQ:ILMN)
Technical analysis is the study of stock price and volume data through technical charts. This analysis does not take into account the intrinsic value of a stock. Just by looking at the Illumina stock price one can't take a trading decision. A trader needs to find a chart pattern, which is a clear cut pattern formation on the ILMN stock chart which creates a trading signal.
See Illumina bollinger bands, SMA (200 day moving average, 50 day moving average) and exponential moving averages. The technical analysis form of Illumina stock analysis tries to understand the market by studying the stock market trend itself as opposed to other aspects like the company's fundamentals.
Illumina Moving Average:
Moving averages show the ILMN stock price trend. The two most popular types of moving averages are the Simple Moving Average (SMA) and the Exponential Moving Average (EMA). A key factor that impacts moving averages is the lag factor. The 20 day moving average of $175.35 is above the price of $173.88.
Illumina Bollinger Bands:
Bollinger bands comprise of a center line usually ILMN SMA, and two ILMN stock price bands above and below it. The stock is considered over brought when the price starts moving closer towards the upper band, and is considered oversold as stock price moves closer towards the lower band. Currently the stock price of $173.88 is in the lower range of Illumina bollinger bands.
Illumina Moving Average Convergence Divergence or MACD:
The moving average convergence divergence or MACD is a technical indicator which helps assess the stock price trend. Traders usually wait for a confirmed crossover signal before entering into a trading position. Divergence implies that the current stock price trend could come to an end, when the stock price diverges from MACD. The Illumina MACD line is above the signal line.
Illumina Relative Strength Index:
The RSI is a valuable tool to determine overbought / oversold stocks and measures the recent performance of a stock in relation to its own stock price history. The relative strength index of ILMN stock is 33.46. .