adriel.arrasmith
Long

CREE Targets $40 then $53

NASDAQ:CREE   CREE INC
13 0 1
Fundamentally, I don't really care CREE             , but it has been severely sold off the last few years. Now we came back at value at $22 we held a major area, with a symmetrical triangle/divergence. We broke out and then retested that broken trendline. Now that we are making new highs everything points to $40 and then onto $53. $26.50 should be a great spot to also have a stop offering a generous risk/reward of about 5:1.
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