Jumping in on ILMN

While the biotech sector picks up momentum, one can look for opportunities in specific stocks to get long.

One prime example of this is $ILMN. Please observe the chart below.

ILMN Daily - 2017-09-28

$ILMN has come back down to tag the 50MA. One can consider getting long half a piece here, first. Should the stock come down lower to tag the 100MA, the other half can be placed.

Stop loss should be placed just below the 100MA, at around $178.51. This allows for some buffer room below the major moving average to account for potential noise.

More aggressive traders can simply go in with full size, with a stop below the 50MA, around $188.18.