rwh4fs: Yes, I said below 38. I could see this coming on the horizon. This is my opinion- not a statement of fact. Personally, I believe that Wall. St. is tired of getting burned by Cree. There are better energy plays out there in the market. Many Cree investors that are tired of holding this risky speculative stock. I just don't see a Cree rally coming any time soon with no good news.
I was replying to SCHWEITZ.
He said it was unlikely to go below $38. I can bring up the post.
As for me, I trade on purely the chart. I could care less about news, analysts, earnings, guidance, etc, etc, The chart says it all because it represent past behavior and is the best predictor of future behavior. EOM.
PS. My bet, with protective stops in place, is that CREE will eventually see low to mid $30s. For several years, CREE tried multiple times to break over $33 and failed. That is where it is headed back to -- to test that all important level.
5 yr chart
"These downgrades are already factored into the stock price. "
How can you possibly know the downgrades are factored into the current price? Can you see into the minds of all the traders and investors?
You can make a statement of price prediction, but that is just an OPINION.
But you can never make a statement such as yours, "These downgrades are already factored into the stock price. " Because that statement is just nonsense.
These downgrades are already factored into the stock price. Get with the program. Your analysis was completely off. $30? CREE is holding up extremely well considering and shorts will panic soon because the stock is still performing rather well.
dolts, I'm not saying it won't go lower. I'm saying that the title of this thread makes a $30 call, not $37.70, not $36.
But go ahead and be ignorant. I am not long since $70, but I am long with an average price in the high 40s, so yes I am out of the money right now, but not worried in the least. I just find posts like this to be indicative of the morons who have nothing better to do than play for a couple percent (which is what you are doing by citing a strong sell at these prices)