Sunoco LP (SUN) together with its subsidiaries, distributes & retails motor fuels in the US. It operates in two segments, Fuel distribution & Marketing & all other. The company is based in Dallas, TX, comes under Energy Sector & trades as “SUN” ticker at NYSE.
SUN made an all time low at $10.46 in early 2020 & later traded higher as impulse sequence. It ended impulse wave I at $46.95 high & below there, it favors a correcting lower in II before upside resumes.
SUN – Elliott Wave Latest Daily View :
It started impulse sequence since 3/18/2020 low & placed ((1)) at $27.48 high on 6/05/2020. It favored ended ((2)) at $22.52 low as shallow correction. Above there, it placed ((3)) at $42.57 high on 10/15/2021. It placed ((4)) at $36.81 on 12/15/2021 as 0.236 Fibonacci retracement. It ended ((5)) of wave I at $46.95 high on 2/02/2022 against March-2020 low as impulse sequence. Below there, it favors correcting lower in wave II.
Below wave I high, it placed ((W)) at $34.26 low as the part of double correction. While above there, it favors a corrective bounce in ((X)) leg & expect sideways to higher to finish it below $46.95 high as connector. Later it expect to resume downside in ((Y)) leg to finish II correction. Alternatively, it may unfold in flat correction to finish wave II before upside resumes.
Source: https://elliottwave-forecast.com/stock-market/sun-expect-corrective-bounce-wave-ii/