Cree, Inc. Breaking Key Level: Drop Likely

Cree, Inc. (NASDAQ:CREE) has just broken a key level on the daily chart. This will likely see a price drop from its current price of $48.66, -0.57 (-1.16%) to $44.75 and ultimately $33.75. Over the last few months, the Cree, Inc. daily chart has formed a classic in-spirit-of bear flag pattern. If you connect the lows of this flag pattern you can see that the price of Cree, Inc. has broken down below this trend line. This signals an initiation of a fall that could last for months. Please note the chart below of Cree, Inc.


Gareth Soloway
InTheMoneyStocks.com