Cree Falls 10.40% on Heavy Volume: Watch For Potential Rebound
Cree (NASDAQ:CREE) traded in a range yesterday that spanned from a low of $21.50 to a high of $22.99. Yesterday, the shares fell 10.4%, which took the trading range below the 3-day low of $23.76 on volume of 7.6 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
In the past 52 weeks, Cree share prices have been bracketed by a current low of $21.50 and a high of $32.92 and are now at $22.38. Over the last five market days, 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.