Elliott Wave Technical Analysis: Illumina Inc.

Entrepreneur, Idea, Competence, Vision, Target

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

How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.