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Shares of Cree Fall to a New 52-Week Low

By Nick Russo

Cree (NASDAQ:CREE) traded at a new 52-week low today of $21.62. So far today approximately 4.3 million shares have been exchanged, as compared to an average 30-day volume of 1.8 million shares.

Cree has overhead space with shares priced $21.65, or 24.2% below the average consensus analyst price target of $28.56. The stock should find initial resistance at its 200-day moving average (MA) of $26.54 and further resistance at its 50-day MA of $27.48.

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.

In the past 52 weeks, shares of Cree have traded between the current low of $21.62 and a high of $32.92 and are now at $21.65. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 2.1%.

SmarTrend is tracking the current trend status for Cree and will alert subscribers who have CREE in their portfolio or watchlist when shares have changed trend direction.

Keywords: 52 week high/lows

Ticker(s): CREE