miércoles, 14 de mayo de 2014

CREE Inc Stock analysis and forecast. Last Price $45.75 05-14-2014

CREE Inc Stock analysis and forecast. Last Price $45.75  05-14-2014.
Hi Everybody today I would like to analyze CREE Inc.
In the last earnings report, The company announces a 0.28 EPS (Consensus 0.29).
Let´s analyze some fundamentals.
P/E ratio= 44.42
EPS= 1.06.
 During the last year (2013) the sales growth for this company was a 19%. The average sles growth for the past 4 years is 25.92%
During the last year the EPS grew a 89.74% and the average for the past 4 years is 80.31%
Let´s see the chart.

Supports and Resistances:
S1:44.60 S2:37.96 R1:52.77 R2:59.08
Elliot waves: Actually, the price is moving into the flat pattern ("a" wave inside a downtrend serie). It´s probably that this stock will go a little bit lower than yesterday´s close.
However The MACD is recovering from the elliot 3rd wave. During the last sesion the MACD crossed the signal, so it´s probable that the price bounce in the short-term.
The RSI is at 31% and the stochastic is at 51% inside an uptrend pattern.
The buy range for this stock is [42.66;46.17].
As you can see the price is inside a downtrend channel. Actually the price is inside the buy range and during the last week the price reached the low point of the range.
Actual targets:
TG1:46.75 Tg2:48.22 TGext:50.59
Maybe you´re thinking the price is too close to the TG1 however it would be a great target if you bougth at 42.66.
Once the price arrives to the target 1 I recomend to analyze again the stock in order to hold or sell.
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