Illumina stock confirms long-term bullish breakout, targets $242 and $351 amid early trend reversal.

Illumina (ILMN) confirmed a long-term bullish reversal after breaking out above $155.53, reclaiming its 200-week moving average, signaling a shift from sellers to buyers. Despite a short-term pullback triggered by a weekly shooting star pattern from a recent high of $177.22, key support at $155.53 held firm. If the stock sustains this momentum, upside targets are $242.36 and $351.49 based on measured move patterns and Fibonacci retracements. A drop below $155.53 could risk testing support near $140.70, but the overall outlook remains positive for a broadening uptrend.