Barchart.coms Chart of the Day - Cree (CREE)
The "Chart of the Day" is Cree (CREE), which showed up on Friday's list of stocks that had a new "Buy" signal from the Barchart "TrendSpotter" trading system. Cree last Wednesday through Friday rallied sharply to a 2-month high from oversold levels on heavy volume and posted a big outside week up. The plunge in Cree seen over the past year has brought the stock down to levels that may be attractive for a company that represents one of the few pure-plays in the LED lighting space. In recent news on the stock, Morgan Stanley last Thursday upgraded Cree to Overweight from Underweight and raised its target to $40 from $28 due to an acceleration in LED adoption and pricing power. Cree last Tuesday reported fiscal Q4 EPS of 28 cents versus the consensus of 27 cents. Jefferies last Wednesday lowered its price target for Cree to $38 from $46 due to weaker-than-expected fiscal Q1 guidance, but said the stock is one of its top picks in the cleantech space and that it has the best balance sheet in the cleantech space with $1.1 billion in cash and no debt. Cree, with a market cap of $3.7 billion, is a market-leading manufacturer of semiconductors that enhance the value of solid-state lighting, power and communications products by significantly increasing their energy performance and efficiency.
How we found the Chart of the Day:
We found the "Chart of the Day" by scanning the Barchart "Trading Signals" page. That page provides a summary of changes in the Barchart signals. We then clicked on the TrendSpotter "Buy" category to obtain a list of all the stocks for which the Barchart TrendSpotter trading system has just turned to a buy. We then clicked on the "Today's Opinion" column header in order to sort the list with the strongest stocks on top. Further information is available at Barchart Signals Guide help page and at TrendSpotter help page.
Barchart's Opinion trading systems are mixed and Barchart's daily TrendSpotter trading system is a "Buy." Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.
Barchart links for further information:
Quotes and Charts
Quote
Detailed Quote
Chart
Technical Analysis
Technicals Summary
Trader's Cheat Sheet™
Barchart Opinions
Barchart Opinion
Barchart Snapshot
Trading Strategies
Company Info
Company Profile
Key Statistics
Ratios
Income Statement-Quarterly
Income Statement-Annual
Balance Sheet-Current
Balance Sheet-Annual
Chart of the Day Archive
View Past Chart of the Day Reports
How we found the Chart of the Day:
We found the "Chart of the Day" by scanning the Barchart "Trading Signals" page. That page provides a summary of changes in the Barchart signals. We then clicked on the TrendSpotter "Buy" category to obtain a list of all the stocks for which the Barchart TrendSpotter trading system has just turned to a buy. We then clicked on the "Today's Opinion" column header in order to sort the list with the strongest stocks on top. Further information is available at Barchart Signals Guide help page and at TrendSpotter help page.
Barchart's Opinion trading systems are mixed and Barchart's daily TrendSpotter trading system is a "Buy." Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.
- TrendSpotter: Buy
- Short-Term Indicators: 60% Buy
- Medium-Term Indicators: 50% Buy
- Long-Term Indicators: 67% Sell
- Overall Average 32% Buy
Barchart links for further information:
Quotes and Charts
Quote
Detailed Quote
Chart
Technical Analysis
Technicals Summary
Trader's Cheat Sheet™
Barchart Opinions
Barchart Opinion
Barchart Snapshot
Trading Strategies
Company Info
Company Profile
Key Statistics
Ratios
Income Statement-Quarterly
Income Statement-Annual
Balance Sheet-Current
Balance Sheet-Annual
Chart of the Day Archive
View Past Chart of the Day Reports
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