$RUN Cup w/ Handle Breakout AnalysisOverview
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.
