Yahoo Finance Sunrun (RUN) Recently Broke Out Above the 200-Day Moving Average
From a technical perspective, Sunrun (RUN) is looking like an interesting pick, as it just reached a key level of support. RUN recently overtook the 200-day moving average, and this suggests a long-term bullish trend.
The 200-day simple moving average is widely-used by traders and analysts, and helps establish market trends for stocks, commodities, indexes, and other financial instruments over the long term. The indicator moves higher or lower together with longer-term price moves, serving as a support or resistance level.
RUN has rallied 20.4% over the past four weeks, and the company is a Zacks Rank #2 (Buy) at the moment. This combination suggests RUN could be on the verge of another move higher.
The bullish case only gets stronger once investors take into account RUN's positive earnings estimate revisions. There have been 1 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
Investors may want to watch RUN for more gains in the near future given the company's key technical level and positive earnings estimate revisions.
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