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Bearish Moving Average Cross by Cree Inc (CREE)

By Shiri Gupta

Cree Inc (NASDAQ:CREE) shares have crossed bearishly below their 10-day moving average of $56.85 on a volume of 284K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Cree Inc have traded between a low of $33.72 and a high of $69.21 and are now at $56.06, which is 66% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has risen 0.5%.

SmarTrend recommended that its subscribers protect gains by selling shares of Cree Inc on May 2nd, 2019 by issuing a Downtrend alert when the shares were trading at $61.72. Since that call, shares of Cree Inc have fallen 6.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses cree inc

Ticker(s): CREE