kushrolled100

RUN - Possible Breakout Opportunity

Long
NASDAQ:RUN   Sunrun Inc.

RUN looks like it's finally breaking out to the upside here. Drawn with the furthermost trend lines (purple lines) on the wicks, this should be in a safe spot to expect a pullback for entry in the 75.50 - 76.50 zone before another leg up.

There are two areas that are considered the golden retracement zones (50% and 62%) for any possible rejections. These are my interest areas to capture profits. Levels to be aware of are 79.00 / 81.50 / 84.50 / 88.50 on the upside. This plan will be considered a failed break out if it closes under 74 or 73.50 to be more precise.

200-count Linear regression also helps visualize this trend as it's above the midline and continuing to point upwards. Pullback via linear regression also shows the 75.50 - 76.50 area as support.

Only downside is that the momentum of the push wasn't as great as I had expected and seems to be fizzling out. Perhaps a sector rotation back into Energy - Clean energy would help push this further.

There's also a possibility of a run-up towards the earnings at the end of month. I expect to take off most of my position by then, as their preliminary earnings release (and sell off afterwards) goes to show that investors' money can be better spent elsewhere in the meantime. At least, until it can fit the assumption that RUN is worth what it is at this price.
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