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Upgrade Alert for Cree (CREE)May 22, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Cree (NASDAQ:CREE) was upgraded from Neutral to Buy at Sterne Agee today. The stock closed yesterday at $59.85 on volume of 1.7 million shares, below average daily volume of 2.6 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) defies analysts with a current price ($59.85) 10.3% above its average consensus price target of $53.67. Cree shares have support at the 50-day moving average (MA) of $55.49 and additional support at the 200-day MA of $38.79. Over the past year, Cree has traded in a range of $22.25 to $61.76 and closed yesterday at $59.85, 169% above that low. Over the past week, the 200-day moving average (MA) has gone up 1.4% while the 50-day MA has advanced 0.8%. SmarTrend recommended that subscribers consider buying shares of Cree on January 23rd, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $39.74. Since that recommendation, shares of Cree have risen 50.6%. We continue to monitor CREE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- 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 |