SUNRUN(#SUNRUN) weekly uptrend opportunity based On 1.00 Lot Calculation:
Sunrun Inc. engages in production of residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking; and solar leads generated to customers. In addition, the company offers battery storage along with solar energy systems. Its primary customers are residential homeowners.
EVENT 1: The $1.75tn “build back better” bill should pass by Thanksgiving. On Friday last week The House passed a $1 trillion bipartisan plan to rebuild roads and bridges, modernize public works systems and boost broadband internet, among other major improvements to the nation’s infrastructure. The Build Back Better bill includes the Clean Electricity Performance Program which stands to make the biggest dent in U.S. greenhouse gas emissions by cleaning up the grid. The bill would also deliver the largest investment in renewable energy in US history. US President Biden set up the goal of 80% clean electricity by 2030.
EVENT 2: U.N. Climate Change Conference in Glasgow - Oct 31, 2021 – Nov 12, 2021
World leaders are gathering in Glasgow at the event, which will involve two weeks of negotiations, during which countries will attempt to set bolder national targets for limiting emissions and finance shifts to greener economies as well as set rules that govern everything from carbon markets to how the world will measure its progress.
The Earnings report on November 4 beat expectations. The energy company reported $0.11 earnings per share, and revenue of $438.77 million for the quarter, both topping the consensus estimate. The business's revenue was up 109.2% on a year-over-year basis.
PRICE ACTION: Since 2020 the company has risen more than 300% to reach the record high level in January 2021 of $100.93. After breaking above $100 the price fell to $38 in May this year since when it is in uptrend. Currently the price is moving around $58 which allows 74% of potential growth in order to reach the level from the beginning of the year.
ANALYSTS OPINIONS: Wall Street Journal analysts set medium target at $76 target. Bloomberg has a strong BUY rating with medium price target at $73, while Nasdaq analysts recommend a strong buy with medium price target at $70.61. BMO Capital Markets boosted their price objective on shares of Sunrun from $65.00 to $72.00 and gave the company an "outperform" rating in a report on Friday.
Sunrun, November 9, 2021
Current Price: 58.00
|
Sunrun |
Weekly |
|
Trend direction |
|
|
68.00 |
|
|
65.00 |
|
|
63.50 |
|
|
52.50 |
|
|
51.00 |
|
|
48.00 |
Example of calculation based on weekly trend direction for 1.00 Lot*
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Sunrun |
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Pivot Points |
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|
Profit or loss in $ |
50,000.00 |
35,000.00 |
27,500.00 |
-27,500.00 |
-35,000.00 |
-50,000.00 |
|
Profit or loss in €** |
43,291.54 |
30,304.08 |
23,810.35 |
-23,810.35 |
-30,304.08 |
-43,291.54 |
|
Profit or loss in £** |
36,688.09 |
25,681.66 |
20,178.45 |
-20,178.45 |
-25,681.66 |
-36,688.09 |
|
Profit or loss in C$** |
62,035.00 |
43,424.50 |
34,119.25 |
-34,119.25 |
-43,424.50 |
-62,035.00 |
* 1.00 lot is equivalent of 5000 units
** Calculations for exchange rate used as of 12:25 (GMT) 09/11/2021
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client Manager regarding their use.
*** You may wish to consider closing your position in profit, even if it is lower than suggested one
**** Trailing stop technique can protect the profit – Ask your Client Manager for more detail