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Cree Inc Falls 4.73% on Heavy Volume: Watch For Potential Rebound

By Shiri Gupta

Cree Inc (NASDAQ:CREE) traded in a range yesterday that spanned from a low of $55.16 to a high of $56.50. Yesterday, the shares fell 4.7%, which took the trading range below the 3-day low of $56.76 on volume of 821,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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 $55.27, which is 64% 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: rebounders cree inc

Ticker(s): CREE