JTPro
Long

CREE has long term growth potential

BATS:CREE   CREE INC
102 0 0
The first bullish trend I see, are through the OBV and Accum/Dist charts. Both charts show gradual accumulation of CREE             at higher prices. This trend looks very similar to it's previous trend that started in late April of last year til August, which had a nice run up from $53 to $74.

In additon, according to the Money Flow Index ( MFI             ), CREE             has bounced off the 30 mark twice. If it can break through 50, that would be a strong bullish signal.

In the short run, MACD is showing that the 12-day line is about to cross the 26-day line. which is another bullish signal.

IMO, this could be a good entry point, if you're looking for long-term growth of about 20% for the next 6-12months. Assuming fundamentals stay at status quo.
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