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Trade It: $CREE Hits Double Bottom, Reverses Following Earnings Miss

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This article is published in collaboration with Scutify, where you can find real-time markets and stock commentary from Robert Marcin, Cody Willard and others. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

Cree, Inc. (NASDAQ:CREE) collapsed sharply in early trading on Wednesday, after reporting earnings that did not meet expectations. The stock flushed to a technical chart double bottom at $20.85, before recovering a majority of its losses. This recovery is a signal that big money was buying heavily on the drop. Based on this, shares of Cree, Inc. should be accumulated by investors, expecting a move higher in the coming months.

Stock drop on earnings gives investors a buy on Cree, Inc.


This article was written by Anna B for on .

This article published in collaboration with Scutify, the best app for traders and investors. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

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