BGU - Illumina (ILMN)Gap Move this Morning
Illumina (ILMN) is gapping up after announcing 8% earnings growth. While technically this is a buyable gap-up type move, at least at right off the opening, and the stock did surprise on the upside with much stronger than expected revenues, can an 8% earnings grower be considered all that fundamentally powerful. Bottom line, however, is that any buyable gap-up move can be tested given that the intra-day low of the gap-up day serves as a nearby selling guide should the stock fail on its BGU. Currently ILMN's intra-day low is 78.78.
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