ILLUMINA (ILMN) potential breakout over resistance $372
ILMN is one of the highest conviction picks by ARKK investments (ARKK). They invest in disruptive technology that could potentially change the world.
Another pick Invitae(NVTA) has a similar pattern and broke out recently.
Level exhaustion at the $372 level and a potential accumulation zone. A daily close above 372 would be bullish.
An overall bullish sentiment with the price well above the moving averages.
Some key metrics I looked at,
3Y revenue growth: 13.89%
ROIC: 14.22%
P/CF: 48.54
P/S: 15.48
DCF value: $162 (Simply Wall street)
PEG: 2.2X
Future growth: 26.8%
Historical growth: 17.6%
Rule of 40 = net margin + revenue growth = 29+13= 42 (42>40, OK)
Potential tailwinds,
- Leader by market share (More than 90%)
- Relatively new industry
- Covid19 accelerating genome revolution and health trends
- The decline in cost curve
Another pick Invitae(NVTA) has a similar pattern and broke out recently.
Level exhaustion at the $372 level and a potential accumulation zone. A daily close above 372 would be bullish.
An overall bullish sentiment with the price well above the moving averages.
Some key metrics I looked at,
3Y revenue growth: 13.89%
ROIC: 14.22%
P/CF: 48.54
P/S: 15.48
DCF value: $162 (Simply Wall street)
PEG: 2.2X
Future growth: 26.8%
Historical growth: 17.6%
Rule of 40 = net margin + revenue growth = 29+13= 42 (42>40, OK)
Potential tailwinds,
- Leader by market share (More than 90%)
- Relatively new industry
- Covid19 accelerating genome revolution and health trends
- The decline in cost curve
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