Recent 52-Week High Exceeded in Shares of Cree (CREE)
Cree (NASDAQ:CREE) traded today at a new 52-week high of $46.88. So far today approximately 130,000 shares have been exchanged, as compared to an average 30-day volume of 2.4 million shares.
Cree, Inc. develops and manufactures semiconductor materials and electronic devices made from silicon carbide (SiC). The Company uses proprietary technology to make enabling compound semiconductors such as blue and green light emitting diodes, SiC crystals used in the production of unique gemstones, and SiC wafers that are sold for device production and research.
Over the past year, Cree has traded in a range of $22.25 to $46.88 and is now at $46.71, 110% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 3.0% while the 200-day MA has risen 1.0%.
Cree (NASDAQ:CREE) is currently priced 17.6% above its average consensus analyst price target of $38.48. The stock should discover initial support at its 50-day moving average (MA) of $36.85 and subsequent support at its 200-day MA of $29.68.
SmarTrend recommended that subscribers consider buying shares of Cree on January 23rd, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $39.74. Since that recommendation, shares of Cree have risen 16.8%. We continue to monitor CREE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: 52 week high/lows