Yesterday I made some comments about CREE, after a post on SixthWorld.
I indicated I might go long about 25, believing it was at support there.
Today, I haven't gone long. I'll post a revised chart after the close, but taking a close look at the chart today, I'm putting the support right about 25.5-25.8, and taking into account yesterday's heavy volume, the price by volume bars show a lot of volume right below 25. With that gap down to below the 200-d, and the fact that it has traded below its open all day, I really need to see a strong close above 26.35 (today's open) to go long here.
Film at 11.
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2 comments:
Jaloti,
CREE is an interesting one to watch. Approach any trades on this one with caution and stops.
Tom from SW
Caution is the word here--like I said, I think this is at support, but that gap --ouch!
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