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| 3/08/99 Sun Microsystems (SUNW)
Points to watch: Short term trading
opportunities exist in SUNW on moves above resistance at 105.75 and on moves below support
at 102.25. Sun closed Friday at 104.63 after failing to break through the resistance
band at 105.5-105.75 intraday. The stock closed below the Gann resistance point at
105.13 on its intraday chart and below the down trendline at 105.5 on its daily chart.
If NASDAQ rises today, SUNW is likely to follow. OBV is rising and the MACD
signal line has crossed into positive territory. We would be buyers on a break above
the resistance at 105.75. The first upside target on a breakout is 111.88. On
a breakout to the downside, we would short the stock below the support at102.25 with a
first downside target of 98.25 and a second downside target of 92.38.
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