Sunrun is a residential solar energy provider that includes solar panels, batteries, and other equipment necessary for affordable clean energy in homes. The company also provides power-purchase agreements and leasing options for consumers who do not wish to spend big on buying and installing panels. Sunrun is the dominant player in the rooftop solar sub-segment, and government initiatives along with greater sustainability awareness are poised to drive the sub-segment forward. The future prospects of Sunrun are bright.
The monthly chart for Sunrun shows sideways movement till 2020. From April 2020, the stock took off and went up an incredible 8 X in just six months. In early 2021, prices hit a peak of $100 before falling a massive 65% to find support at the bottom trend line. In June 2021, prices have bounced back up from the trend line and now look set to re-test the $70 levels and then $85. A minimum stop loss can be placed below the trend line at $38.
Position entered into our long-term tracking portfolio today. The entry point is at $52.60, and a stop-loss placed $37.07, which is 30% below the entry point. The short-term to medium-term profit at the top of the trend is set at $69.10, giving a profit of 31%.
On the video and images above you will see the reason this stock was selected.
You will see the image is of a monthly chart of the stock showing the long-term upwards trend formed over the years. You will also see the entry point and the where the stop loss is placed. For more information please watch the video given.
Once it is time to move the original stop loss up you will see an additional image.