The share is reaching a technical resistance and could begin a bearish trend.
The company still displaying mitigate fundamentals. Even if sales are expected to increase on the current fiscal year, its EBITDA is anticipated at lower levels than those registered in prior year.
Technically, the security could run out of steam close to the USD 37.1 resistance. Indeed, the stock is moving in an upward trend in the short term but it could know a halt. In this context, the downward movement could improve and it should expect a return to USD 32.6. Indicators that show an overbought situation confirm this scenario.
Due to the technical patterns and fundamentals' quality, investors can open a short position close to the USD 37.1 resistance. The target price being set at USD 32.64, a stop-loss order could be placed above USD 37.1 in order to limit further risks.
Wolfspeed, Inc. is a semiconductor company focused on silicon carbide technologies. The Company provides solutions for efficient energy consumption and a sustainable future. Its product families include silicon carbide material and power devices targeted for various applications such as electric vehicles, fast charging, and renewable energy and storage. Its products include Discrete MOSFETs, Discrete Schottky Diodes, Bare Die MOSFETs, Bare Die Schottky Diodes, Power Modules, Gate Driver Boards, Evaluation Kits, Reference Designs and Materials Products. The Companyâs silicon carbide fabrication facility is located in Marcy, New York.
WOLFSPEED, INC. 
