CREE, similar to RVLT, has been bear for quite some time now. The down trend is an evidence and has been for weeks. It has now entered into a failing wedge reversal figure (not confirmed yet). To confirm the figure, CREE must break resistance line B-D. It also had a bullish piercing candle last Friday. Also not confirmed yet. Both Stochastics and RSI are in the oversold regions Reversal may be within days. SAR is also close to a reversal. A quick bullish candle would turn it into an uptrend. Also to consider is the Gap formed on August 13th (Earnings). CREE may want to fill this soon. Target is 49,50$. Waiting confirmations to enter.
Comments
LeLaf
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Well, a little bearish today on downgrade (to neutral). Will see how it goes this week. Still a failing wedge though.