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

  Matched
x
  • In our live, interactive Trading Room, we identify trading opportunities in ...
  • Equity Index Futures
  • Index & Sector ETFs
  • Individual Stocks
  • Precious Metals
  • Energy
  • Forex
  • Treasuries
  • International Markets
  • And Much More
Join MPTrader Now!
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!