[ibd-display-video id=2368044 width=50 float=left autostart=true] IBD's unique rating measures market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the last 52 weeks holds up against all the other stocks in our database.
Decades of market research shows that the best-performing stocks tend to have an RS Rating of over 80 as they begin their biggest runs.
Cree is now considered extended and out of buy range after clearing a 29.94 buy point in a first-stage cup with handle . See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The company reported negative growth for both the top and bottom lines last quarter.
Cree earns the No. 26 rank among its peers in the Electronics-Semiconductor Manufacturing industry group. ON Semiconductor ( ON ), Microchip Technology ( MCHP ) and STMicroelectronics ( STM ) are among the top 5 highly rated stocks within the group.
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