Illumina (NASDAQ:ILMN) crossed under its 10-day moving average of $187.83 on a volume of 401K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Illumina, Inc. develops, manufactures and markets integrated systems for the large scale analysis of genetic variation and biological function. The Company provides a comprehensive line of products and services that currently serve the sequencing, genotyping and gene expression markets for genomic research centers, pharmaceutical companies, academic institutions and biotechnology companies.
Illumina (NASDAQ:ILMN) has potential upside of 21.1% based on a current price of $186.31 and analysts' consensus price target of $225.69. The stock should hit resistance at its 50-day moving average (MA) of $190.82, as well as support at its 200-day MA of $183.13.
Illumina share prices have moved between a 52-week high of $213.33 and a 52-week low of $25.57 and are now trading 629% above that low price at $186.31 per share. The 200-day and 50-day moving averages have moved 0.15% higher and 0.41% lower over the past week, respectively.