Overview
SUNRUN has experienced a notable upward movement today, gaining 8.89% as of this writing. This increase has propelled the stock above what appears to be a Cup with Handle formation, a technical pattern often associated with a bullish breakout. Given this development, the current price area could be a favorable point for initiating a new position. Typically, a breakout is confirmed when the price moves above a long-term resistance level.
Position Details
I established a full-size position in SUNRUN in early August at a price of $10.80 per share. Later, in November, I added a smaller amount at $17.95 per share, which increased my average cost to $11.68 per share. Currently, I am up 69% on this position. I did not add more shares today, as I missed the initial surge and prefer not to pursue the price higher. My plan is to wait for the stock to consolidate, even if that occurs at a higher price, since there is no clear area to set a reasonable stop loss for additional shares at this time.
Outlook and Watchlist Recommendation
I am sharing this update because I believe SUNRUN has the potential for further significant gains and should be considered for your watchlist. I will continue to update this analysis when a favorable risk-reward entry point becomes apparent.
Important Disclaimer
Readers are strongly encouraged to perform their own analysis and adhere to personal trading strategies. Keep in mind that all investments carry inherent risk. Making thoughtful and informed decisions is crucial when allocating capital in financial markets.
SUNRUN has experienced a notable upward movement today, gaining 8.89% as of this writing. This increase has propelled the stock above what appears to be a Cup with Handle formation, a technical pattern often associated with a bullish breakout. Given this development, the current price area could be a favorable point for initiating a new position. Typically, a breakout is confirmed when the price moves above a long-term resistance level.
Position Details
I established a full-size position in SUNRUN in early August at a price of $10.80 per share. Later, in November, I added a smaller amount at $17.95 per share, which increased my average cost to $11.68 per share. Currently, I am up 69% on this position. I did not add more shares today, as I missed the initial surge and prefer not to pursue the price higher. My plan is to wait for the stock to consolidate, even if that occurs at a higher price, since there is no clear area to set a reasonable stop loss for additional shares at this time.
Outlook and Watchlist Recommendation
I am sharing this update because I believe SUNRUN has the potential for further significant gains and should be considered for your watchlist. I will continue to update this analysis when a favorable risk-reward entry point becomes apparent.
Important Disclaimer
Readers are strongly encouraged to perform their own analysis and adhere to personal trading strategies. Keep in mind that all investments carry inherent risk. Making thoughtful and informed decisions is crucial when allocating capital in financial markets.
Trade active
RUN I have added to this position as a new trade (trade around core position). My stop will be just below yesterday's low giving me a nice risk reward entry. If I am wrong, I will accept a small loss.Note
RUN It looks like the next area of resistance is between $21 and $22. If looking at the pullback from recent highs to the most recent low was about 20%. Often times if we can get a breakout over the $21/$22 area, we might expect a 20% move on that giving us a target between $25 and $26. All TBD.Note
RUN It looks like SUNRUN is breaking above a bull flag here.Note
RUN I still have a very large position in this trade and have not sold any nor added in the last few weeks. It now appears that the Cup w/ Handle has morphed into a nice wedging pattern. I have an alert set on the top-down sloping trendline. If it triggers, I will look to add even more to this trade. TBD.Note
RUN here is a monthly chart that looks constructive. IMO.
Ideas I publish are my own. They are not meant to be investment / trading advice. You are encouraged to do your own due diligence.
I am under no obligation to post any action or update to any idea.
Follow me on "X" where I post more content.
I am under no obligation to post any action or update to any idea.
Follow me on "X" where I post more content.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Ideas I publish are my own. They are not meant to be investment / trading advice. You are encouraged to do your own due diligence.
I am under no obligation to post any action or update to any idea.
Follow me on "X" where I post more content.
I am under no obligation to post any action or update to any idea.
Follow me on "X" where I post more content.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.