Illumina Inc (US: ILMN) Technical price action indicates a bullish return:

1. The cup and handle formation signals a potential bullish reversal. The rounded bottom of the cup has rebounded from the immediate support zone at US$342.90-US$353.60, and broken above the larger falling wedge.
2. The bullish engulfing candle has closed both the Tenkan and Kijun-Sen, and the lagging span is seen returning above the candle.

*Expected timeline of the trade is 20 weeks from the date of report issuance.

CHART LEGEND

Ichimoku Kinko Hyo

Red dotted line = 26 periods Kijun-Sen

Blue dotted line = 9 Periods Tenkan-Sen

Green Line B= 52 periods Senkou Span B

Pink Line A = 26 periods Senkou Span A

Black line = 26 periods Chikou Span. Lagging line