Cree Inc. (NASDAQ: CREE ) This semiconductor maker focuses most of its
expertise on LED products, but competition in that arena is fierce and CREE has
not lived up to its potential. After the close yesterday, CREE forecast Q2
profits of 25 cents to 28 cents a share when analysts were expecting 34 cents.
Cree has been in a bear market since early last year when it topped at over $80.
This stock is showing no improvement in either its fundamental or technical
situation. The strong channel downtrend has support at about $20, and so that is
the target for a short sale.
No comments:
Post a Comment