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Look for Shares of Cree Inc to Potentially Pullback after Yesterday's 6.20% Rise

By James Quinn

Cree Inc (NASDAQ:CREE) traded in a range yesterday that spanned from a low of $53.52 to a high of $57.00. Yesterday, the shares gained 6.2%, which took the trading range above the 3-day high of $54.70 on volume of 2.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Cree Inc has traded in a range of $33.72 to $57.00 and is now at $56.89, 69% above that low. The 200-day and 50-day moving averages have moved 0.37% higher and 1.93% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Cree Inc on January 9th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $45.04. Since that recommendation, shares of Cree Inc have risen 19.0%. We continue to monitor CREE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders cree inc

Ticker(s): CREE