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Technology Stocks : Wolf speed

WOLF 22.07

-3.0%

Dec 5 9:30 AM EST

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To: pompsander who wrote (3297)	7/28/2000 5:21:03 PM
From: Yogizuna	Read Replies (1) of 10714

CREE tested "critical" support near the 100 area on the weekly chart today, and is holding that so far on a closing basis..... The bad news is that the weekly has now rolled over to the downside, but on the positive side, the hourly chart is now constructive with the slow stochastics, and the daily chart is becoming very oversold now. So we have a "tug-of-war" going on to hold that weekly chart 100 level. There is more strong support on the weekly down at the 65/70 area approximately. Very interesting action here on the charts. I will now wait for my standard buy signal on CREE before jumping in since the stock has fallen so low and it makes no sense to me now to try and second guess the upcoming buy signal. After buying in, will probably write the calls after I'm satisfied with the next rally. Have a nice weekend everybody! Yogi

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