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  • CREE Approaching New Highs, Technical Breakout Watch 0 comments
    Jul 31, 2013 7:42 PM | about stocks: CREE

    CREE showing intraday strength and edging higher to the double resistance area, under watch for a breakout above 70.92 to new highs.

    Breakout details

    BREAKOUT WATCH for possible breakout above 70.92, no resistance in area just above.
    Type: True breakout from double resistance.
    Target: 77.97, 11.5% Stop: 67.54, Loss: 3.4%, Profit/Loss ratio: 3.4 : 1 - Excellent

    Support and Resistance

    CURRENT PRICE 69.9, at resistance, 69.48 ± 1.46, type double, strength 2
    RESISTANCE ABOVE None.

    SUPPORT BELOW -7% at 65 ± 1.37, type single, strength 5
    -10.6% at 62.52 ± 1.31, type double, strength 8

    CREE chart

    (click to enlarge)CREE breakout stock chart from http://www.stockconsultant.com

    source: http://www.stockconsultant.com/consultnow/basicplus.cgi?symbol=CREE

    Stocks: CREE
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