Top picks - ILMN , LZ , AMSC
Illumina shares were up on Friday more than 2.9% or 1.12$ to 39.45$ on above-average volume after Matrix Investment Research upgraded Illumina to a "Strong Buy" from a "Sell" based on a re-evaluation of the stock's price, risk and valuation. Matrix based their upgrade on strong demand for genetic analysis equipment, already yesterday company said it has received more than 75 orders for its Genome Analyzer. Over the past 52 weeks shares have traded between $27.02 to $45.87. ILMN is actually the hottest stock of market. Technically speaking based on above chart stock is trading in an extreme Overbought conditions and today movement may predict some profit taking soon, due to this fact. However, actually stock is trading in a short Bullish Mode as the chart show, with share price above 50 dma and 200 dma. Resistance is now at 40$ and support at 36$.
The technical chart shows that stock broke out on Friday an important resistance at 18$. Indicators are all in favor of Bulls with K line above D line and MACD above 0. In addition stock is trading above 50 dma and 200 dma = Bullish Mode. Let's see if stock will sustain tomorrow this movement. Keep AMSC in your watchlist.
LZ stock has been doing well since the start of April, Yesterday broke out an important resistance at 68$ followed by volume, and test previous resistance now support, so keep LZ in your watchlist.
Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.
That's All. Have a nice evening !!!
AC
