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Upgrade Alert for Cree (CREE)
[June 29, 2012]

Upgrade Alert for Cree (CREE)

Jun 29, 2012 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Cree (NASDAQ:CREE) was upgraded from Hold to Buy at Think Equity today. The stock closed yesterday at $25.22 on volume of 3.8 million shares, above average daily volume of 3.0 million. Cree, Inc. develops and manufactures semiconductor materials and electronic devices made from silicon carbide (SiC). The Company uses proprietary technology to make enabling compound semiconductors such as blue and green light emitting diodes, SiC crystals used in the production of unique gemstones, and SiC wafers that are sold for device production and research.

Cree (NASDAQ:CREE) has potential upside of 38.9% based on a current price of $25.22 and analysts' consensus price target of $35.04. The stock should run into initial resistance at its 200-day moving average (MA) of $27.35 and subsequent resistance at its 50-day MA of $27.41.

In the past 52 weeks, Cree share prices have been bracketed by a low of $20.25 and a high of $37.30 and closed yesterday at $25.22, 25% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 2%.


SmarTrend is monitoring the recent change of momentum in Cree. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Cree in search of a potential trend change.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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