By providing sequencing and array-based solutions for genetic and genomic analysis, Illumina, Inc. serves various markets and applications, such as life sciences, oncology, reproductive health, agriculture, and COVID-19 research. The company’s vision is to enhance human health by unlocking the power of the genome.
According to Illumina’s financials for the fiscal year 2022, the company reported a revenue of $3.24 Billion, an operating income of $1.01 Billion, and a net income of $796 Million. The company also holds a dominant position in the sequencing market, with a market share of more than 70%.
By evaluating the price data of the ILMN Share, it can be said that it is presently in a downtrend. The profit margin of the stock is -100.88%. Its 52-week low is $173.45, it peaked at $248.87. The average 3-months volume of Illumina Inc. stock is $1.38 Million.
ILMN Stock Technical Analysis
The price of ILMN has fallen below 50 and 200 EMA, indicating that the price is downward. However, the stock price may lose more value in the upcoming week. The price will drop further if the sellers maintain the pressure. The chart showed a bearish cross, signaling the potential downtrend.
The MACD is moving lower. The MACD line at -5.53 and signal line at -4.27 is above the zero line, implying the MACD is going negative and giving bearish signals.
The RSI value is 35.86 points, and the 14 SMA line is under the median line, around 40.56 points which signals bullishness. However, the 14 Day SMA line going below the median line suggests a downward trend. The market is bearish as the price is currently in an overbought zone.
Summary
The current market sentiments are not positive about the stock price as it is on a critical support level. Illumina Inc.’s share price is going downwards in the market. The price action suggests that the price may decrease more in the upcoming days if it breaks its primary trendline resistance level. ILMN’s price shows a pessimistic scenario at the moment. Major reliable indicators like EMA, RSI, and MACD are giving negative signals about Illumina Inc. stock.
Technical Levels:
Support – The current support levels are $181.62 and $175.03.
Resistance –The current resistance levels are $206.53 and $225.57.
Disclaimer
The analysis given in this article is for informational and educational use only. Do not take this information as financial or trading advice. Trading and investing contain financial risk. Before making any investment or trading decision, please consider your risk profile and circumstances.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/07/08/ilmn-stock-analysis-illumina-inc-to-give-breakdown-soon/