To know more about the News, why is Illumina stock rising with high volumes, Let’s go through the following brief study about that.
Illumina Inc. sued over alleged infringement of Columbia patents.
Columbia University and exclusive licensee QIAGEN (QIAGEN -1%) have filed a lawsuit in a Delaware court against Illumina Inc (Illumina +2.5%) claiming that the latter's HiSeq, MiSeq, MiniSeq, NextSeq, NovaSeq and iSeq 100 DNA following instruments and reagents infringe on some Columbia patents related to the use of updated versions (analogues) of nucleotides to sequence DNA.
The parties seek monetary compensation and requesting an injunction stopping further unauthorized use of the inventions.
Two days back, the USPTO's Patent Trial and Appeal Board ruled in favour of Illumina by invalidating a Columbia patent covering a method of genetic sequencing.
On 11 Sept trading, the open price is the low price of this stock.
DATE
|
11-SEPTEMBER-2019
|
|
|
|
PREV. CLOSE
|
276.04
|
Volume
|
1,824,695
|
|
OPEN
|
278.12
|
Average Volume (3m)
|
1,184,978
|
|
HIGH
|
289.88
|
P/E Ratio
|
43.53
|
|
LOW
|
278.12
|
EPS
|
6.34
|
|
CLOSE
|
289.66
|
|
|
Recommendation: As it’s already
discussed above “why
is illumina stock rising”, traders may go for a LONG-TRADE till it bounces back
from it’s over-bought region or hits the stop-loss. Traders are advised to
maintain trailing stop-loss and take profits. There’re more chances of touching
the 292.50 level from it’s current level of 289.66 is more
probable.
Trade Table:
|
Date
|
LTP
|
Stop Loss
|
Resistance 1
|
Resistance 2
|
Resistance 3
|
|
11-SEPT-2019
|
289.66
|
278.15
|
293.65
|
297.65
|
305.40
|
Important Note: This stock already breached Resistance 3 on 19-Sept-2019 and reached 310 on 20-Sept-2019.
If you want to see other stock
recommendations and their reviews & performance, please Recent posts of Samsung
Electronics Co Ltd DRC Pref – a Long-trade (Buy) opportunity and Intuitive Surgical Inc – a Long-trade (Buy) opportunity.
Get the live technical charts for Illumina Inc stock to get the updated data to decide when to buy this stock and sell.
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To check why is
Illumina stock rising, view
the shares Resistance 1, Resistance 2, Resistance 3 from Pivot Point Calculator.
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