Illumina could regain its upward trend after having run out of steam
There is a strong buyer consensus as none analyst is on the selling side. Their average target price is displaying an 8.6% upward potential. The firm very good Surperformance rating emphasize its growth revenue, its sound finances and the high profitability.
Illumina, is in a bullish trend in the medium and the long term. All moving averages remain well-oriented. A consolidation phase is taking place within the USD 213.9/220.7 range. Near the lower limit prices could increase, supported by the rising 50-day MA.
Consequently, could open a long position at current prices and target a reversal toward the USD 229 pivot point and by extension the USD 239. A stop loss order will be set at USD 212.9.
Illumina, Inc. specializes in the development, manufacturing and marketing of integrated systems for the analysis of genetic variation and biological function. The group's products are for genomic research centers, pharmaceutical companies, university institutions, clinical research organizations, and biotechnology companies. Net sales break down by source of income as follows:
- product sales (84.1%): tools and instruments for sequencing, genotyping, genetic expression, etc.;
- sales of services (15.9%).
Net sales are distributed geographically as follows: the United States (52.4%), Americas (3.6%), Europe (25.3%), Asia/Pacific/Middle East/Africa (10.2%) and China/Taiwan/Hong Kong (8.5%).