Illumina (ILMN) has been moving sideways for the past 18 weeks attempting to build a new base. With a 16% correction, the base is a tad too deep to be a flat base. Unless it forms a handle, it would have to be considered a cup-without-handle base. The relative strength line is near a new high, which is a positive sign ahead of a potential breakout. The stock found support near the low of the base during the week ended May 1.