Sun Microsystems (JAVA) NewsBite - JAVA Hits 52-Week Low

Friday, September 05, 2008 11:59 AM EDT

Sun Microsystems (NasdaqNM: JAVA) hit a new 52-Week low of $8.32 so far today. Currently the stock is down $0.09 (-1.05%) to $8.49 on 4,530,340 shares traded. Today's low is down $16.55 from a 52-Week high of $25.04. Sun Microsystems stock has been showing support around $8.29 and resistance in the $9.11 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 11 range. [ABR-Seven Summits Strategic Investments NewsBite]

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