MarketMoodz
Sunoco Breaks 2014 Peak; Technicals Point Toward $78
Sunoco LP (SUN) cleared the final resistance from its 2014 peak in March, producing a technical breakout to fresh all-time highs, CNBC Pro reports. A measured-move projection targets roughly $78, with monthly and weekly momentum indicators currently supporting further upside.
Key Takeaways
- SUN cleared its 2014 peak resistance in March and is trading at new all-time highs.
- A measured-move from the breakout projects about $78 in the intermediate term.
- Monthly MACD is bullish and weekly MACD shows rising histogram bars, while weekly stochastics are overbought after a Q2 pop.
- Former resistance sits as support in the low-$60s, with a trailing stop near $66 using the 50-day/10-week moving average.
- SUN has begun to outperform the S&P 500; the SUN/SPX ratio shows a rounded bottom with a base breakout and is above its 200-day moving average.
People Involved
- Katie StocktonTechnical analyst, founder & CEO of Fairlead Strategies; CNBC Pro contributor
- Will TamplinCNBC presenter
Entities Involved
- Sunoco LP (SUN)Fuel distribution and retailing master limited partnership; subject of the technical breakout
- Fairlead StrategiesTechnical research firm (founded by Katie Stockton)
- CNBC ProPremium CNBC research and chart-based commentary platform
- S&P 500 (SPX)Market benchmark used for relative-strength comparison
- Crude oil (WTI/Brent)Commodity tailwind for fuel stocks if prices remain firm
MarketMoodz Analysis
The breakout above the 2014 peak is a clean technical milestone: it turns the prior multi-year ceiling into potential support and sets up a measured move toward about $78. Momentum readings are constructive — monthly MACD is bullish and weekly MACD histogram bars are rising — which argues the trend has follow-through. For tactical exposure, the report highlights former resistance in the low-$60s as initial support and a trailing stop near $66 using the 50-day/10-week moving average, which gives a defined risk level while allowing the trade room to run.
Relative strength versus the S&P 500 is another positive sign: the SUN/SPX ratio shows a rounded bottom and has cleared its 200-day moving average, suggesting Sunoco can outperform the broader market if energy names keep up. The $78 measured move is a technical projection, not a guarantee; volume confirmation, price action through the low-$60s support, and continued firmness in crude oil will be key checks. The report also notes a possible mid-2026 momentum pickup if oil remains firm, but that outlook carries significant uncertainty and depends on macro and commodity dynamics beyond the chart.
Source: Original Article