user warning: Table './fnndrupaldev/term_node' is marked as crashed and last (automatic?) repair failed query: SELECT t.* FROM term_node r INNER JOIN term_data t ON r.tid = t.tid INNER JOIN vocabulary v ON t.vid = v.vid WHERE r.vid = 443815 ORDER BY v.weight, t.weight, t.name in /var/www/www.fnno.com/htdocs/modules/taxonomy/taxonomy.module on line 617.

Bearish Moving Average Cross by Cree (CREE)

Published on Tue, 02/19/2013 - 12:14
By Adrienne Chilton

Today, shares of Cree (NASDAQ:CREE) have crossed bearishly below their 10-day moving average of $45.19 on a volume of 1.1 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Cree has traded in a range of $22.25 to $46.88 and is now at $45.08, 103% above that low. Over the past week, the 200-day moving average (MA) has gone up 1.3% while the 50-day MA has advanced 3.7%.

Cree (NASDAQ:CREE) defies analysts with a current price ($45.08) 14.6% above its average consensus price target of $38.48. The stock should discover initial support at its 50-day moving average (MA) of $37.13 and subsequent support at its 200-day MA of $29.75.

Cree, Inc. develops and manufactures semiconductor materials and electronic devices made from silicon carbide (SiC). The Company uses proprietary technology to make enabling compound semiconductors such as blue and green light emitting diodes, SiC crystals used in the production of unique gemstones, and SiC wafers that are sold for device production and research.

By Adrienne Chilton
achilton@fnno.com

Latest News from FNNO

Shares of Synchronoss Technologies Rise ...

Synchronoss Technologies (NASDAQ:SNCR) traded today at a new 52-week high of $42.62. T ...

Skechers U.S.A. Looks to Continue to Tra...

Skechers U.S.A. (NYSE:SKX) traded at a new 52-week high today of $59.00. So far today ...

Royal Bank of Canada: The Winning Streak...

Shares of Royal Bank of Canada (NYSE:RY) traded today at $75.08, breaking its 52-week h ...

Watch for Continued Gains in Shares of R...

Republic Services (NYSE:RSG) traded today at a new 52-week high of $39.62. So far toda ...

Shares of Transocean Fall Below Previous...

Shares of Transocean (NYSE:RIG) traded at a new 52-week low today of $37.76. This new ...

Shares of Planar Systems Rise Above Prev...

Planar Systems (NASDAQ:PLNR) traded today at a new 52-week high of $4.41. So far today ...

Recent 52-Week High Exceeded in Shares o...

Shares of Northern Trust (NASDAQ:NTRS) traded at a new 52-week high today of $68.50. A ...

Nanosphere Looks to Continue to Trade Be...

Shares of Nanosphere (NASDAQ:NSPH) traded today at $0.85, breaking its 52-week low. So ...