Cree offered its fiscal third quarter guidance during its fiscal second-quarter report on Jan 22. Higher LED sales led to revenue of $119 million in the quarter, marking gains of 34% and 5% on a year-over-year and sequential basis, respectively. Furthermore, earnings per share matched the consensus. In just the past seven trading days, earnings estimates for the year ending June 2008 are up 7.7%, while expectations for the year ending June 2009 moved upward 14.5%.http://www.reuters.com/article/pressRelease/idUS263783+29-Jan-2008+BW20080129
CREE is coming off a 1 day bounce; 1 day does not a trend make! This stock HAS made my list many times (even recently) but not since I started posting them. It is in a FUNK right now (I have not researched why yet) and, you're right, bounced off the 200sma today. But LOTS of things bounced today with good news (?), so I'm holding out (or my scan is!) for now. But it is definitely worth a watchful eye, because yesterday could be the first day of a trend reversal. Who knows?
It has demonstrated since about mid november that it's on a climb, but March has not been kind. The RSI, STOCH, and WM% (my favorite 3 TA indicators that I now ignore) say YOU ARE RIGHT. It has been beat down and is ready to fly. Still, I need to see more movement. I'm late to the party, but never alone!