Here's our daily look at three charts connected to recent news-driven price moves, with key technical levels to monitor.

Illumina, Inc.

Illumina, Inc. (ILMN) shares tumbled 3.3% on Friday but were rising in premarket trading Monday after the gene sequencing company announced over the weekend that it will divest its Grail unit, which manufactures blood test kits to detect early signs of cancer. The decision follows Friday’s finding by the federal appeals court that the company's $7.1 billion 澳洲幸运5官方开奖结果体彩网:acquisition of Grail in 2021 was anticompetitive. The sale of the unit will take place through a third-party sale or capital markets transaction, with the terms likely finalized by the second quarter of 2024, Illumina said in a statement.

Since bottoming out just below $90 in early November, the ILMN share price has gained more than 40% on above-average volumes, indicating a level of conviction behind the buying. If news-driven volatility increases, it could be worth keeping an eye on two key areas: the $135 level, where the price may encounter overhead 澳洲幸运5官方开奖结果体彩网:resistance from a downtrend line that stretches back to mid-April, and the $117 level, an area on the chart that may find support from a 澳洲幸运5官方开奖结果体彩网:countertrend retracement high and the 50-day moving average.

Roku, Inc.

TV streaming company Roku, Inc. (ROKU) shed nearly 7% Friday after a broker 澳洲幸运5官方开奖结果体彩网:downgrade from MoffettNathanson. Analysts at the boutique research group raised caution over the stock’s valuation after recent gains, given the company’s challenging revenue outlook. They noted that subscription video-on-demand services had slowed considerably in October 2023 and that Roku’s market share in connected TV advertising may be squeezed due to increasing competition from steaming giants Amazon Prime, Netflix, and Disney+. The research firm has a $66 price target on Roku shares, 31% below Friday’s closing price of $95.93.

ROKU shares have oscillated within a 澳洲幸运5官方开奖结果体彩网:broadening formation throughout 2023. This chart pattern, sometimes referred to as a megaphone pattern, consists of two diverging trendlines and typically forms in volatile markets that lack a clear direction. The price has shown 澳洲幸运5官方开奖结果体彩网:volatility, with two swings over 40♕ p♐oints since August. The pattern’s upper and lower trendlines may prove to be key support and resistance areas.

Bitcoin

Bitcoin (BTC), the largest cryptocurrency by market capitalization, saw selling pressure intensify in early Monday trade after the 澳洲幸运5官方开奖结果体彩网:Securities and Excha♎nge Commission (SEC) rebuffed a request late last week from leading U.S. crypto exchange Coinbase Global, Inc. (COIN) to provide clear crypto regulations. The agency said it would not propose a new regulatory framework for digital assets because it fundamentally disagreed with exchange’s assertion that current 澳洲幸运5官方开奖结果体彩网:crypto regulations were “unworkable.” In response, Coinbase said it has filed a petition to have the decision reviewed. Given that Bitcoin has gained more than 50% over the past three months in anticipation of the approval of a 澳洲幸运5官方开奖结果体彩网:spot Bitcoin exchange-traded fund (EꦬTF) and its April halving event, investors might see the development as an opportunity to lock in some profits amid renewed concerns over regulatory 🔥uncertainty.

Bitcoin’s price has trended sharply higher since mid-October, with gains accelerating after the 50-day moving average crossed above the 200-day moving average to generate a 澳洲幸运5官方开奖结果体彩网:golden cross. Although the price is currently undergoing a pullback, it appears to be finding support from an uptrend line that extends back to the October low. However, It’s worth watching for potential breaks below the trendline for early indications of a possible reversal. Also keep an eye on the $48,000 level, which may find resistance fro🌳m a prominent March 2022 swing high and the fact that the figure sits just below the key $50,000 handle.

The comments, opinions, and analyses expressed on Investopedia are for informational purposes only. Read our 澳洲幸运5官方开奖结果体彩网:warranty and liability disclaimer for more info.

As of the date this article was written, the author does not own any of the above securities.