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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 $14.31 and $14.48 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 (NASDAQ:RUN) defies analysts with a current price ($14.39) 9.7% above its average consensus price target of $13.00. Sunrun Inc shares have support at the 50-day moving average (MA) of $12.53 and additional support at the 200-day MA of $11.62.

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 share prices have moved between a 52-week high of $16.45 and a 52-week low of $4.21 and are now trading 242% above that low price at $14.39 per share. Over the last five market days, the 200-day moving average (MA) has gone up 1.1% while the 50-day MA has advanced 0.5%.

SmarTrend is monitoring the recent change of momentum in Sunrun Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Sunrun Inc in search of a potential trend change.

Keywords: bearish inside day candle sunrun inc

Ticker(s): RUN