This post was just published on ZYX Buy Change Alert.
Nothing fundamental has changed in our thesis on CREE. Our long-term target remains intact. However the FOMC statement released this afternoon shows that the Fed has turned hawkish. If there is an overall market sell off, CREE will be hit disproportionately hard exasperated by further tax loss selling. The stock is trading at $31.67 as of this writing. Consider taking profits and exiting the position in the zone of $31. 50 to $32.88.
The plan is to enter the position again if there is a dip in the zone of $24 to $28.31.
You are receiving less than 2% of the content from our paid services …TO RECEIVE REMAINING 98%, TAKE A FREE TRIAL TO PAID SERVICES.
Please click here to take advantage of a FREE 30 day trial.
Check out our enviable performance in both bull and bear markets.