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Jim Van Meerten
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Jim Van Meerten is an advisor to Marketocracy Capital Management and writes on financial subjects here and on Barchart Portfolio Blogs. He earned a BS in Accounting and Business Administration from Berry College; a Juris Doctorate from the Woodrow Wilson School of Law; and attended... More
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Marketocracy Capital Management
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  • Illumina - Barchart's Chart Of The Day 0 comments
    Jan 29, 2014 5:30 PM | about stocks: ILMN

    The Chart of the Day is Illumina (NASDAQ:ILMN). I found the stock by sorting the All Time High list for frequency in the last month then used the Flipchart feature to find the best chart. Since the Trend Spotter signaled a buy on 10/22 the stock soared 62.88%.

    ILMN is a developer of next-generation tools for the large-scale analysis of genetic variation and function. The company's tools will provide information that could be used to improve drugs and therapies, customize diagnoses and treatment, and cure disease. The company is developing a comprehensive line of products that can address the scale of experimentation and the breadth of functional analysis required to achieve the goals of molecular medicine.

    (click to enlarge)

    Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

    Barchart technical indicators:

    • 96% Barchart technical buy signals
    • Trend Spotter buy signal
    • Above its 20, 50 and 100 day moving averages
    • 10 new highs and up 32.88% in the last month
    • Relative Strength Index 80.16%
    • Barchart computes a technical support level at 132.40
    • Recently traded at 146.67 with a 50 day moving average of 110.67


    Fundamental factors:

     

    • Market Cap $ 18.35 billion
    • P/E 79.69
    • Revenue predicted to grow 15.60% this year and another 17.00% next year
    • Earnings estimated to increase 14.40% this year, an additional 22.30% next year and continue to increase at an annual rate of 17.50% for the next 5 years
    • Wall Street analysts issued 4 strong buy, 7 buy and 14 hold recommendations on the stock
    • Financial strength is B+


    This stock just keeps on truckin'. Use the 50 day moving average as a sign of weakness and the 100 day moving average as your exit point.

    Stocks: ILMN
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