Sun Microsystems (JAVA) NewsBite - One of Today's Top Gainers

Posted: Monday, April 20, 2009 2:45 PM EDT

Sun Microsystems (JAVA) leads the list of top gainers so far today and is now at $9.16, up $2.47 (36.92%) on volume of 738,464,576 shares traded. Over the last 52 weeks the stock has ranged from a low of $2.60 to a high of $16.37. Sun Microsystems stock has been showing support around $5.74 and resistance in the $7.18 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 July out-of-the-money bull-put credit spread below the 8 range. [ABR-Seven Summits Strategic Investments NewsBite]

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