Earlier this week CREE was one of the few stocks we suggested to watch for an intermediate term long. We feel this is a stock that could move to fresh 52 week highs in a continuing market uptrend.
In spite of our cautious stance toward the market at this juncture we like the early volume in the stock today and are taking a long as price passes resistance around $36.75 with a stop under the low of the day.
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