Sun Microsystems (JAVA) NewsBite - JAVA Is On the Move

Posted on Wednesday, August 27, 2008 10:40 AM
Sun Microsystems (JAVA) appears to be on the move today and is now at $9.30, down $0.24 (-2.52%) on volume of 3,809,140 shares traded. Over the last 52 weeks the stock has ranged from a low of $8.63 in July to a high of $25.04 in November. Sun Microsystems stock has been showing support around $9.27 and resistance in the $9.75 range. Technical indicators for the stock are bearish and S&P gives JAVA a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on JAVA the stock seems like it could be a candidate for a January out-of-the-money bear-call credit spread above the 12.50 range. [ABR-Seven Summits Strategic Investments NewsBite]
Stocks To Watch Today: GE, XTO, TM, GM, KEY, APC, NUE, JCP, DE, CAM, KLAC, NOC (Click Symbol For Latest News)

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