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SmarTrend Watching for Potential Rebound in Shares of Cree After 10.40% Loss

By Nick Russo

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.

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, shares of Cree have traded between the current low of $21.50 and a high of $32.92 and are now at $22.38. 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