Strong seasonal pattern for Illumina (ILMN Stock) [Video]

Giles Coghlan LLB, Lth, MA Financial Source

The broad conditions for equity buyers remain in place. Easy central bank monetary policy and broad fiscal stimulus mean conditions are suitable for further equity gains. However, investors need to be aware that markets have been trading at elevated levels and are struggling to make new highs despite strong earnings.

Will Illumina move higher in keeping with its very strong seasonal pattern this year? Over the last 15 years, Illumina has gained in value eleven times between June 02 and July 01. The largest gain was in 2019 with a huge 22.04% profit.

Illumina is an American company incorporated in April 1998. Illumina develops, manufactures, and markets integrated systems for the analysis of genetic variation and biological function. Summer months can be good months for releasing the latest product developments and proposals. Will Illumina’s strong seasonal pattern lift its share prices again this year?

Major trade risks

The main risk to this trade is from any risk-off tones which will weigh on equity prices.
A fast rise in US inflation could result in bond tapering which would potentially weaken Illumina's share price if US interest rates are expected to rise.

Learn more about HYCM

Premium

You have reached your limit of 3 free articles for this month.

Start your subscription and get access to all our original articles.

Subscribe to Premium Sign In

Author

Giles Coghlan LLB, Lth, MA

Financial Source

Giles is the chief market analyst for Financial Source. His goal is to help you find simple, high-conviction fundamental trade opportunities. He has regular media presentations being featured in National and International Press.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.