CREE Provides 12% Trade

On Oct 23, Mike added Cree Inc. (CREE) to his model portfolio, noting that after dismal earnings it had fufilled its downside potential off its April 2013-April 2014 top formation. Moreover, the intermediate-term RSI momentum gauge, in addition to the minor rally off the Oct 22 loww at 27.20, pointed to a recovery phase.

CREE was trading at 28.80 at the time, and, as it surged through the top of its channel and appeared short-term overbought, was exited at 32.30 on Oct 28 for a 12% gain. The stock closed the week at 31.48.

More Top Calls From Mike

  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!