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Possible Bearish Inside Day Candle Pattern Detected for Sunrun Inc (NASDAQ:RUN)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Sunrun Inc (NASDAQ:RUN) based on the price action in the company's shares. Today's price range of $12.84 and $13.15 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Sunrun Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Potential upside of 0.9% exists for Sunrun Inc, based on a current level of $12.88 and analysts' average consensus price target of $13.00. Sunrun Inc shares should encounter resistance at the 50-day moving average (MA) of $12.93 and support at its 200-day MA of $10.64.

In the past 52 weeks, shares of Sunrun Inc have traded between a low of $4.21 and a high of $16.45 and are now at $12.88, which is 206% above that low price. The 200-day and 50-day moving averages have moved 0.95% higher and 0.73% lower over the past week, respectively.

Sunrun Inc. provides solar energy solutions. The Company installs, monitors, and maintains solar panels on homeowners' roofs to supply solar electricity. Sunrun serves customers in the United States.

SmarTrend recommended that its subscribers protect gains by selling shares of Sunrun Inc on July 30th, 2018 by issuing a Downtrend alert when the shares were trading at $14.21. Since that call, shares of Sunrun Inc have fallen 7.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish inside day candle sunrun inc

Ticker(s): RUN