ILMN - Inverse Head & Shoulders
Looking the huge volume accumulation in the last 3 days, there is a chance that ILMN is going to breakout of an inverse H&S neckline soon. So let's watch!
If it does break up, it should not retrace below the neckline again (if it does, consider this a failed inverse H&S).
Theoretical inverse H&S targe @ 308 (which incidentally is also the 38% fibonacci retracement of it's peak to bottom swing (AB)
Manage positions with trailing stops
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
If it does break up, it should not retrace below the neckline again (if it does, consider this a failed inverse H&S).
Theoretical inverse H&S targe @ 308 (which incidentally is also the 38% fibonacci retracement of it's peak to bottom swing (AB)
Manage positions with trailing stops
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
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