Sunrun (RUN) Just Overtook the 50-Day Moving Average

After reaching an important support level, Sunrun (RUN) could be a good stock pick from a technical perspective. RUN surpassed resistance at the 50-day moving average, suggesting a short-term bullish trend.

The 50-day simple moving average is a widely used technical indicator that helps determine support or resistance levels for different types of securities. It's one of three major moving averages, but takes precedent because it's the first sign of an up or down trend.

RUN has rallied 19.4% over the past four weeks, and the company is a Zacks Rank #2 (Buy) at the moment. This combination suggests RUN could be on the verge of another move higher.

The bullish case only gets stronger once investors take into account RUN's positive earnings estimate revisions. There have been 1 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.

Investors may want to watch RUN for more gains in the near future given the company's key technical level and positive earnings estimate revisions.

Zacks' Research Chief Names "Stock Most Likely to Double"

Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.

This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.

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This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research

Source Zacks-com