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

By Shiri Gupta

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 $8.18 and $8.62 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.

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.

Sunrun Inc (NASDAQ:RUN) has potential upside of 46.2% based on a current price of $8.55 and analysts' consensus price target of $12.50. The stock should find resistance at its 200-day moving average (MA) of $8.60, as well as support at its 50-day MA of $6.80.

In the past 52 weeks, shares of Sunrun Inc have traded between a low of $4.15 and a high of $8.95 and are now at $8.55, which is 106% above that low price. The 200-day and 50-day moving averages have moved 0.26% lower and 2.91% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Sunrun Inc on February 16th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $6.71. Since that recommendation, shares of Sunrun Inc have risen 28.9%. We continue to monitor RUN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle sunrun inc

Ticker(s): RUN