Beyond an earnings sell-off, I am looking at Cree as a long-term topping out candidate.
The weekly chart below suggests that unless bulls can pull off a dramatic reversal by Friday we are looking at a weekly breakdown below well-defined, multi-quarter support. Given the size of the top, a move back down into the $30’s is not out of the question.
I would consider shorting rallies.
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Does this stock ever rise after earnings??
Been a while.
GS still positive on the stock FWIW …
bought some in the low 51s (fwiw)
parabolism is in full force. i agree 22 to 30 can come easily. stay in cash in this mkt as it seems to be very overvalued on momo names and in non momo names very overvalued too as no growth is there.