Sunrun (RUN) Crossed Above the 50-Day Moving Average: What That Means for Investors
Sunrun (RUN) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, RUN broke through the 50-day moving average, which suggests a short-term bullish trend.
The 50-day simple moving average is one of three major moving averages used by traders and analysts to determine support or resistance levels for a wide range of securities. But the 50-day is considered to be more important because it's the first marker of an up or down trend.
RUN has rallied 18.5% over the past four weeks, and the company is a Zacks Rank #3 (Hold) at the moment. This combination suggests RUN could be on the verge of another move higher.
Looking at RUN's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 4 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
Investors should think about putting RUN on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.
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Sunrun Inc. (RUN) : Free Stock Analysis Report
