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Cree Inc Set to Possibly Pullback After Yesterday's Rally of 3.87%

By Amy Schwartz

Cree Inc (NASDAQ:CREE) traded in a range yesterday that spanned from a low of $35.80 to a high of $36.50. Yesterday, the shares gained 3.9%, which took the trading range above the 3-day high of $36.02 on volume of 417,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Cree Inc share prices have been bracketed by a low of $27.77 and a high of $69.21 and are now at $36.22, 30% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.1% while the 200-day MA has slid 0.7%.

SmarTrend is tracking the current trend status for Cree Inc and will alert subscribers who have CREE in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders cree inc

Ticker(s): CREE