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After Yesterday's Rally of 2.19% Shares Could Potentially Pullback

By David Diaz

Cree (NASDAQ:CREE) traded in a range yesterday that spanned from a low of $24.51 to a high of $25.90. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $24.93 on volume of 1.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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.

In the past 52 weeks, Cree share prices have been bracketed by a low of $22.10 and a high of $32.92 and are now at $25.42, 15% above that low price. The 200-day and 50-day moving averages have moved 0.12% lower and 2.11% lower over the past week, respectively.

Keywords: rebounders

Ticker(s): CREE