Illumina stock: buy or sell
Mar 2nd, 2021
Illumina stock brief
- Illumina stock grew 1.61% to close at $446.50 on the stock market on Monday, breaking a streak of 5 sessions in negative.
- Price is drawing a scaled uptrend since September 2020 with higher tops and higher bottoms. Up to date, price marked a 71.45% gain since the beginning of this rally
- Illumina, Inc. provides sequencing and array-based solutions for genetic and genomic analysis.
Should I buy Illumina stock?
All successful traders recommend adhering to a trading strategy and not make decisions based on subjective opinions, rumors or feelings. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best
Is $ILMN stock a buy?
Currently, Illumina stock matches one trading strategy:
Uptrend buy setup
Illumina stock is in an uptrend since in September 2020 that so far marked an amazing 71.00% gain. Price marked a pull back in this uptrend at $432.06 last Friday, and since then it bounced off a 3.34%. Breaking out above $555.77 - it's last top - will be a good entry point if Illumina resumes the uptrend. If you decide to enter this trade, the suggested stop loss is at $500.19
|Buy setup||Buy point||Stop loss||Risk|
|Uptrend buy setup||$555.77||$500.19||10.00%|
Should I sell Illumina stock?
"To sell or not to sell", if you are holding Illumina shares?. Much like when we have to buy shares, determining when is appropiate time to sell is not a random decision, and we must use our own trading strategy. Our trading system selects very simple strategies to guide us on when is a good moment to sell a stock. Be aware that these strategies are not intended for selling short Illumina stock
As a golden rule, you must never keep an open trade that generates higher than expected losses upon purchase. The moment to sell shares should always be ruled by the stop-loss (automatic or manual)
Is it time to sell Illumina stock?
In the current situation of Illumina there is not any eligible sell setup, so Illumina stock holders with operations in profit can keep their positions
In the last month, 5 analyst ratings were published for Illumina. General sentiment is bullish, with 4 out of 5 posting optimistic outlooks
|Feb 12th, 2021|
|Feb 16th, 2021|
|BTIG Research|| |
Illumina stock analysis
Since in September 2020, Illumina has been printing an uptrend that so far marked an amazing 71.45%. During this uptrend, the price provided some buy points on the breakouts. Latest low was last Friday, when price bounced at $432.06. Now, it swings in a consolidation between its last top ($555.77) and its last bottom ($432.06)
Supports and resistances
The current resistances are:
The current supports are:
Since the price surpassed the upper band on February 17, the price has corrected downwards by 10.15%
Relative strength index
The RSI dropped below the overbought level of 70 on February 18 after just crossing to the overbough zone for just one day (weak signal). The RSI value on Monday was 51.06. Since then, Illumina shares collapsed a 9.66%
Illumina stock price history
Illumina started trading priced at an adjusted price1 of $14.94 on Jul 2000. Since then, ILMN stock has risen by 2,888.62%, with an average of 144.43% per year. An investment of $1,000USD on Jul 2000 would worth $29,886.21 today.
1: Adjusted price after possible price splits or reverse-splits
Price target for Illumina stock
How much a stock will be priced tomorrow or next week is quite unpredictable. However, many stock price forecasts are issued every day by banks, financial institutions and independent analysts.
The following table shows the price forecasts released by brokerage institutions for the last 30 days. Again, these forecasts are not direct recommendations for individual investors and should not be followed blindly.
Averaging all price targets exposed below, the predicted price for Illumina stock is $484.00. Illumina closed at $446.50 on Monday, so the target price is forecasting an increase by 8.40%.
|Brokerage firm||Price target|
|Feb 12th, 2021|
|Canaccord Genuity||$350.00 → $410.00|
|Cowen||$385.00 → $460.00|
|Piper Sandler||$415.00 → $510.00|
|SVB Leerink||$360.00 → $470.00|
|Feb 16th, 2021|
|BTIG Research||$410.00 → $570.00|
Earnings and financials
Illumina, Inc. ($ILMN) released earnings of $1.22 per share in mid-February, slightly surpassing the Market consensus estimate of $1.11 per share. This Q4 report represents an earnings surprise of 9.91%. Forecasted turnover for Q4 was $903.9 million but Illumina slightly improved by 5.43%, reporting $953.0 million.This compares to Earnings of $1.70 per share same quarter last year, so reported EPS means a reduction of -28.24%. Looking at revenues, figures barely moved compared to $9.5B same quarter a year ago.
Illumina ($ILMN) will host the earnings call late next April. Estimated for this quarter is $1.23, compared to $1.22 that was reported for Q4.
Important:The opinions written in this article are personal and should not be followed as recommendations for you to buy or sell stocks. The author of this report does not have any knowledge of the specific scenarios of the reader, his or her own financial statements or his or her own best interests at any given time. All users should speak with their financial advisor before buying or selling any securities Comments are expressed for learning purposes only
|Monday, March 1st, 2021|
|Day range||$443.14 - $451.74|
|Average true range||$30.63|
|50d mov avg||$412.13|
|100d mov avg||$365.84|
|200d mov avg||$359.70|
|Earnings date||April 29th, 2021|