Sunrun to have a very good – or very bad – Friday
Sunrun (RUN) has had a nice run of late, setting itself into one of the stronger relative performers on my screen. Clearly, the $16 area has established itself as resistance, first in July last year and then this week. The weekly chart, displayed here, shows RUN’s action since its IPO. I get conflicting reads from various patterns on the daily, weekly and monthly charts. But all of this has set up shares for the residential solar panel installer and operator for a break through resistance or a retreat with the release of its earnings report after the market today. I’m not going to make a bullish or bearish call on it ahead of the market reaction – suffice to day I expect to get a strong signal one way or the other. If bullish, I’m looking for a medium term advance to $22. Bearish, shares could sell off down toward $12 as the look for reasons to test resistance again. $10 would be an area to be a speculative buyer betting on longer term support.