Thursday, August 4, 2011

Cree Inc. (CREE) Minus to Plus Long Trade

Click on the chart for larger image. See multiple arguments below.

Multiple Arguments
  • News
    • Shares of trader favorite LED-maker Cree Inc. (Nasdaq: CREE) got a boost Tuesday morning as talk of a possible hiring of Goldman Sachs to explore a sale of the company circulated early in the session. NewzBlitz issued an alert about this chatter. 
  • Level II Refresher
    • Buyers enter at $32.20 support 
  •  Momentum Trend
    • Good momentum - strong volume spike right before extended candle. 
    • Moves past the $33.50 resistance area.
  • Relative Strength
    • Minus to plus at open on rumors. 
    • Fills pre-market negative gaps. 

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