UPDATED Chartology: What's Up with Cree? (CREE) and an Analyst Roundup

UPDATE: I try to include the price in each post but sometimes forget.
At 10:42 EST CREE was changing hands at $52.32, four pennies below the closing price.
Original post:
This one should be pretty easy:

BigCharts

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

JP Morgan maintains its Overweight rating but has lowered the price target from $77 to $62.

Deutsche Bank analysts raised their price target on shares of Cree, Inc. from $50.00 to $65.00. They now have a “hold” rating on the stock.

Sterne Agee maintains its Buy rating and has raised the price target to $87.

Morgan Stanley lowered its 2011 and 2012 EPS estimates for Cree Inc. and maintained its equal-weight rating on the stock.

Brigantine research analysts reiterated a “sell” rating for shares of Cree, Inc. in a research note issued to investors on Friday. They currently have a $40.00 price target on the stock, down from $45.00.