economy
This gas stock just cleared a 2014 peak and is set to continue higher, says Katie Stockton
Katie Stockton of Fairlead Strategies breaks down the charts on this gasoline name.
TL;DR
- Sunoco LP (SUN) has broken out to new all-time highs, clearing resistance from the 2014 peak.
- The stock is expected to benefit from upside volatility in crude oil prices.
- Momentum indicators, including the monthly and weekly MACD, suggest a continued uptrend.
- A measured move projection targets $78, achievable in the intermediate term.
- The stock shows positive intermediate-term momentum and is expected to outperform the S&P 500 in 2026.
- Support is identified in the low $60s, with the 50-day moving average serving as a potential trailing stop near $66.