Sunrun (RUN) Recently Broke Out Above the 200-Day Moving Average

Zacks Equity Research

1 August 2022 at 9:30 am·1-min read

Sunrun (RUN) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, RUN crossed above the 200-day moving average, suggesting a long-term bullish trend.

The 200-day simple moving average is a useful tool for traders and analysts, establishing market trends for stocks, commodities, indexes, and other financial instruments over the long term. The marker moves higher or lower along with longer-term price moves, and serves as a support or resistance level.

RUN could be on the verge of another rally after moving 34.2% higher over the last four weeks. Plus, the company is currently a Zacks Rank #2 (Buy) stock.

Looking at RUN's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 2 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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