CREE, similar to RVLT, has been bear for quite some time now. The down trend is an evidence and has been for weeks.
It has now entered into a failing wedge reversal figure (not confirmed yet).
To confirm the figure, CREE must break resistance line B-D.
It also had a bullish piercing candle last Friday. Also not confirmed yet.
Both Stochastics and RSI are in the oversold regions
Reversal may be within days.
SAR is also close to a reversal. A quick bullish candle would turn it into an uptrend.
Also to consider is the Gap formed on August 13th (Earnings). CREE may want to fill this soon.
Target is 49,50$.
Waiting confirmations to enter.
It has now entered into a failing wedge reversal figure (not confirmed yet).
To confirm the figure, CREE must break resistance line B-D.
It also had a bullish piercing candle last Friday. Also not confirmed yet.
Both Stochastics and RSI are in the oversold regions
Reversal may be within days.
SAR is also close to a reversal. A quick bullish candle would turn it into an uptrend.
Also to consider is the Gap formed on August 13th (Earnings). CREE may want to fill this soon.
Target is 49,50$.
Waiting confirmations to enter.