Chart of the Day: Cree
This is a segment of a column that was originally published on RealMoney on May 15 at 12 p.m. EDT. It's being republished as a bonus for TheStreet.com readers.
For more information about subscribing to RealMoney,
Cree (CREE) got clobbered in 2006, dropping over 20 points between April and December.A year-end bounce failed, with the stock retesting the low in late January. Support held, and price has been on the recovery trail since that time. Note how it shot above the 200-day moving average on strong volume three weeks ago. The stock is still testing the boundaries of the late-April surge and needs to hang on in order to continue the nascent uptrend. Accumulation looks constructive, so be on the lookout for buyers to emerge in the next week or two. After it trades above 20 for a few sessions, momentum should increase and carry price another 3 to 5 points. (Please see chart below.)
Click here to see more of Alan's charts. If you'd like to read a primer on technical analysis, please
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV