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Illumina (ILMN) has more room to fall

illuminati illumina swing trade short.Stock: Illumina (ILMN)

Long or Short: Short

Entry: 48.40

Stop-Loss: 50.25

Chart: Illumina (ILMN) Daily

Illumina ILMN swing trade short setup

Reason for Trade: This could be the first of many short positions from me if things don't start to improve for the bulls. Right now, ILMN is acting as a hedge against my existing long exposure in th is market. 1495 continues to be my line in the sand and once we close below that level, I'll start relieving myself of most of my current long positions. 

 

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ryan1Ryan (@shareplanner) specializes in swing trading strategies and is the founder of SharePlanner which he created to help and teach others on how to trade stocks better using multiple approaches and time frames. Each day you can count on Ryan to provide his trading advice as well as transparency in every trade that he makes. Ryan Mallory resides in Central Florida with a wife of seven years as well as one lively son. More >>

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