Wolfspeed stock (WOLF) explodes
From the October 14th Trade Log…
Smart people have been saying WOLF (formerly CREE) should go up for months now, while it went down. Today I am going to take the bait on the little hint above the SMA 50, which proves basically nothing. But… smart people… 2021 downtrend to just above long-term support. Taking a shot.
I am not smart people. I am people who had to filter out the hype noise I’d heard for months and appreciate the potential of that wedge (not drawn in on the chart) correction to have cleared out the investor base for a rally. And oh what a rally.
Even better, I am going to guess that the smart people know their stuff and as long as I like the general Semi sector – and I do – maybe hold on.
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