Illumina (ILMN) Is Trading With Unusual Volume

Posted: Wednesday, November 18, 2009 11:20 AM EDT

Illumina (ILMN) appears to be trading at a higher than usual volume today and is now at $28.77, down $2.49 (-7.97%) on volume of 6,623,967 shares traded. For the last 30 days ILMN has traded 2,463,067 shares on average each day. So far today's volume is 168.93% above that average volume. Over the last 52 weeks the stock has ranged from a low of $18.82 to a high of $44.07. Illumina stock has been showing support around $30.56 and resistance in the $32.52 range. Technical indicators for the stock are bullish and S&P gives ILMN a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on ILMN the stock seems like it could be a candidate for a March out-of-the-money bear-call credit spread above the 35 range. [ABR-Seven Summits Strategic Investments NewsBite]

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