At 10:42 EST CREE was changing hands at $52.32, four pennies below the closing price.
This one should be pretty easy:
Lower then higher, right? There was a lot of stock traded at both points of the 2010 double bottom.
That's a reasonable target for support. Then a move up to fill the gap from this week's earnings release.
The question is "How long does it take for the stock to trend down/sideways?"
Here's what the analysts are saying:
Kaufman Brothers-Kept at Hold but lowered target to $52
Sterne Agee maintains its Buy rating and has raised the price target to $87.