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Technology Stocks : All About Sun Microsystems

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From: sixty2nds	1/10/2007 5:04:12 PM
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From Briefing.com ... 12:34 SUNW Technical Profile: Sun Microsystems showing signs of renewed strength as it nears its multi-yr high (6.06 +0.33) -Technical- SUNW has been locked inside a 4-year plus trading range since Jul 2002 (the consolidation pattern that resulted from the post-bubble fallout -- see monthly chart). Today's price action challenged the Feb 04 resistance high at 5.93 (daily chart, weekly chart). This recent upside momentum occurred on the heels of the highest RSI reading reached on the monthly chart since the basing pattern began (a sign of increasing momentum). The next level of resistance lies directly above the market at the Jul 02 high of 6.13 (when the basing period began). A confirmed break of that level could indicate further upside looking forward. Given the length and magnitude of the basing pattern, a clear break has the potential to be the beginning of a multi-yr move. (TECHX)

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