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Technology Stocks : All About Sun Microsystems

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To: Christopher who wrote (11563)	11/5/1998 9:03:00 PM
From: Christopher	Read Replies (1) of 64865

Cheryl, Here is a detailed TA on SUNW. Overall, SUNW has a very strong TA picture. ADX has moved from 14 on 10/26/98 to 22 as of today and is going straight up. This indicates that SUNW is currently in a strong uptrend. The daily, weekly, and monthly Stochastic, RSI, and MACD are all very bullish. The Accumulation/Distribution indicator has formed a positive divergence indicating that SUNW is under heavy buying by institutions. The Ascending Triangle that I have mentioned in a previous memo also indicate that SUNW is under heavy buying by institutions. Currently SUNW has created a pennant indicating that the uptrend is going to continue. I have also checked many other indicators and they are all bullish. SUNW has been consolidating for more then a year and has started a good advance when it broke above the triangle on 10/26/98 and closed at $54.18, an all time high since 1986. I expect SUNW to reach $73 during the next 60 days or may be sooner. Today SUNW gained about a $1 during the last half hour of trading(between 3:30 P.M. and 4:00 P.M.). This is very important since institution usually make their moves around that time. If you check out the DOW during that half hour you will see that it usually shoots up or down significantly reflecting the institutional buying or selling. Normally institutions watch amateurs during the day(you and I are considered amateurs) and see whether they are buying or selling and then they trade against them. If amateurs are buying during the day, they drive the prices up, and then institutions sell in the last half hour getting good prices for their stock. If amateurs are selling then they drive the prices down and institutions buy in the last half hour at cheep prices. Institutions try to buy on dips and sell rallies. This is how they make money. This means that if a stock goes up during the last hour then institutions are most likely buying the stock as opposed to selling it. Good trading to all. Christopher

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