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$129.01 (4.04%)

Volume: 1M

Closed: Nov 29, 2021

Hollow Logo Score: 2.420

Cree Stock Forecast

$129.01 (4.04%)

Volume: 1M

Closed: Nov 29, 2021

Score Hollow Logo 2.420
Which way will CREE go? Request
Stop-loss: $124.77 (-3.29%)
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 75 ] RSI14 is 88 and the stock is extremely overbought on RSI14, but may also ontinue to gain. Some stocks see their best performance while being overbought, but very seldom does RSI remain so high for a long time without short corrections. Risk has therefore increased and larger daily movements can be expected over the next couple of days.

Cree stock price ended on $129.01 on Monday after gaining 4.04%
(Updated on Nov 29, 2021)


Buy or Hold candidate since 2021-11-22 Gain 1.76%

The Cree stock price gained 4.04% on the last trading day (Monday, 29th Nov 2021), rising from $124.00 to $129.01. During the day the stock fluctuated 4.52% from a day low at $123.51 to a day high of $129.09. The price has risen in 4 of the last 10 days and is up by 63.06% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 100 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $155.69 million.

The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $130.70 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 16.7% during the next 3 months and, with a 90% probability hold a price between $94.76 and $152.53 at the end of this 3-month period.

Signals & Forecast

The Cree stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $126.85 and $88.67. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, November 19, 2021, and so far it has fallen -0.16%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss

Cree finds support from accumulated volume at $128.39 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $5.58 between high and low, or 4.52%. For the last week, the stock has had a daily average volatility of 6.10%.

The Cree stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: $124.77 (-3.29%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 88 and this increases the risk substantially. There is a sell signal from a pivot top found 5 days ago.)

Is Cree stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Cree stock to perform well in the short-term.

Current score: 2.420

Predicted Opening Price for Cree of Tuesday, November 30, 2021

The predicted opening price is based on yesterday's movements between high, low, and the closing price.

Fair opening price November 30, 2021 Current price
$127.20 $129.01 (Overvalued)
Buy Candidate Unchanged

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Analyst Ratings

On Sep 27, 2021 "Deutsche Bank Aktiengesellschaft" gave "$100.00 - $90.00" rating for CREE. The price target was changed from $84.76 to 2.3%.

Volatility and Risk
Daily Average Volatility: 6.10 %
Overall Risk: Very High High Medium Low Very Low
Volatility
6.10 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $129.22
Price: $129.01
Support: $128.39

CREE Insider Trading Show all Trades

INSIDER POWER

1.639

Last 100 transactions
Buy: 739 312 | Sell: 451 117 (Shares)
Date Action Amount Person Type
Oct 28, 2021 Buy 309 Jackson Darren R COMMON STOCK
Sep 27, 2021 Sell 23 340 Lowe Gregg A COMMON STOCK
Sep 01, 2021 Buy 2 229 Riley Marvin COMMON STOCK
Sep 01, 2021 Buy 2 229 Hosein Clyde COMMON STOCK
Sep 01, 2021 Buy 2 229 Jackson Darren R COMMON STOCK
Show all Insider Trades
INSIDER POWER

1.639

Last 100 transactions
Buy: 739 312 | Sell: 451 117 (Shares)

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 132.79 2.93 %
130.65 1.27 %
129.34 0.25 %
Current price: 129.01
Support 125.07 -3.05 %
123.75 -4.07 %
121.62 -5.73 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 0 .
0 .
129.22 0.16 %
Current price 129.01
Support 128.39 -0.48%
126.78 -1.73%
123.88 -3.98%

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About Cree

Cree Cree, Inc. provides lighting-class light emitting diode (LED), lighting, and semiconductor products for power and radio-frequency (RF) applications in the United States, China, Europe, South Korea, Japan, Malaysia, Taiwan, and internationally. Its Lighting Products segment offers LED lighting systems and bulbs for use in settings, such as office and retail space, restaurants and hospitality, schools and universities, manufacturing, healthcare, ai... Read more

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