Wednesday, 2 December 2015

CREE - continuing to climb

Whilst the broader market closed significantly lower, there was notable significant strength in Cree (CREE), which settled +1.1% @ $28.15. There is strong resistance in the 28/30 zone. The bigger monthly chart is offering upside to $40 by late spring 2016... if sp' can push to the 2300s.

CREE, daily

CREE, monthly


*a short update to follow up a recent post.

Suffice to say, Cree is looking strong, having climbed from the $22s to 28s in just a few weeks.

A key multi-year floor looks to have been achieved, and now its a case of whether earnings in Q1 come in fine, if so.. then broader upside across spring 2016.