Sun Microsystems Inc (JAVA) Testing Its 200 Day M.A.
By George Zabel
November 06, 2009 12:04 PM
November 06, 2009 12:04 PM
Symbols: JAVA
Sun Microsystems (NASDAQ: JAVA) is trading lower and is testing its 200 day M.A. If breached, the stock could go much lower as the Nasdaq index’s correction can add downside momentum.
On the other hand if Sun Microsystems holds above this level, it may get into the process of forming a wedge, within which it may become bullish and finally break out to the upside.
The stock’s implied volatility is much higher than its historical average, making it suitable for selling Options strategies only.
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