Cree Ready To Light Up The Market
Dragonfly Capital | Dec 02, 2015 12:01AM ET
That is the insides of a Cree (O:CREE) LED light bulb. Pretty cool. Will these $10 light bulbs finally replace the incandescent world without any complaints? I do not know. But the stock price seems ready to light up the market.
The stock had an extended run lower from a double top at 75 in the summer of 2014. Since that top, it has lost more than 70% of its value, bottoming at 22. But the last 5 months it has built a solid stable base between 24 and 28. It still needs to prove it wants to head higher. But there are some positive signs.
The momentum indicators are bullish. The RSI is making the highs of the year and in the bullish zone, while the MACD is bullish and rising. The Bollinger Bands® are opening higher as well. Tuesday sees the price testing the resistance level at 27.75. The question from here is does it flip the switch and continue over resistance or does the bulb burn out and head back lower.
Disclaimer: The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog. Please see my Disclaimer page for my full disclaimer.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.