CREE was pummeled during recent months and has currently formed a base between (31.50 & 20.00). A breakout to the upside above 31.50 seems imminent. The stock is also already above the 200 and 50 DMA's and has formed a cup and handle pattern.
Fundamentally speaking the, I took a snapshot at CREE's financial position and the company seems to be sound, my thoughtscan be found on the snapshot.
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