After releasing a less-than-stellar H1 earnings report on February 15th, shares of SUN have rallied close to 7.5% from $12.60 to $13.50.
We believe this relief rally has run its course and the share price will resume its downtrend, which commenced back to July of last year.
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The 19% drop in cash earnings was SUN’s most glaring miss in the H1 report, which will act as a headwind for the stock going forward.
Our ALGO engine triggered a sell signal at $14.05 on November 10th. The initial downside target is $12.60, with a $14.35 stop.
SunCorp
