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Stocks C / Cree Inc.


Subject:  shorting Date:  11/11/2019  1:24 PM
Author:  mybestshot Number:  41736 of 41737

This Week
These 'bearish bets' are showing both technical and quantitative deterioration.
Nov 10, 2019 | 05:12 PM EST
Stocks quotes in this article: CREE, SHAK, WWE
Using recent actions and grades from TheStreet's Quant Ratings and layering on technical analysis of the charts of those stocks, Trifecta Stocks identifies five names each Friday that look bearish.
While we will not be weighing in with fundamental analysis we hope this piece will give investors interested in stocks on the way down a good starting point to do further homework on the names.

Cree Inc. (CREE) recently was downgraded to Sell with a D+ rating by TheStreet's Quant Ratings.
This provider of LED and semiconductor products has fallen hard lately, with that huge fall in August coming after an earnings miss. Since then a series of lower highs and higher lows creates a triangle pattern, but at the lows. We find that these consolidation patterns end and proceed in the direction of the previous trend. In this case, it's downward.
Volume levels have swelled on the sell days. This is a good short here and to pile on more when the triangle breaks to the downside. The Relative Strength Index (RSI) is also rolling over.
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