Elliott Wave Technical Analysis: Illumina Inc.
Image Source: Pixabay
Illumina Inc., Elliott Wave Technical Analysis
Illumina Inc., (Nasdaq: ILMN): Daily Chart, 15 August 2023
ILMN Stock Market Analysis: We’ve been forecasting a triangle in wave 4 for a while now, and it has been moving according to the count. Looking for additional downside into wave 5, equality with wave 1 stands at 146. We could find support within the box as we also have an opening gap to fill on the left.
ILMN Elliott Wave Count: Primary wave 5 of Cycle a.
ILMN Technical Indicators: Below all averages.
ILMN Trading Strategy: Looking for additional downside to at least $146.
Analyst: Alessio Barretta
Illumina Inc., ILMN: 4-hour Chart 15 August 2023
Illumina Inc., Elliott Wave Technical Analysis
ILMN Stock Market Analysis: We are seeing a potential (1)-(2) completed as we continue lower. Invalidation stands north of 195$.
ILMN Elliott Wave count: Wave 3 of (3).
ILMN Technical Indicators: 20EMA acting as resistance.
ILMN Trading Strategy: Looking for shorts with invalidation at $195.
More By This Author:
Elliott Wave Technical Analysis Day Chart - U.S. Dollar/Japanese Yen
Elliott Wave Technical Analysis 4 Hour Chart: U.S. Dollar/Japanese Yen
Elliott Wave Technical Analysis: Polkadot/U.S. Dollar - Tuesday, Aug. 15
Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817