Sunoco L.P. (SUN) was upgraded to a buy on Tuesday by TheStreet.com's quantitative service. I think SUN has made a large base pattern and this quantitative recommendation may be just the thing to kick SUN to an upside breakout. Let's check the charts and indicators.
In this daily bar chart of SUN, below, we can see that prices have closed above the bottoming 200-day moving average line and the rising 50-day line. The 50-day line has come up fast and is close to moving above the 200-day line for a bullish golden cross of these two indicators. The daily On-Balance-Volume (OBV) has been strong and rising the past three months and signals aggressive buying. The Moving Average Convergence Divergence (MACD) oscillator moved above the zero line in late July for a buy signal and is poised to turn up again for a fresh buy signal.
In this weekly bar chart of SUN, below, we can see that prices have been in a large sideways/basing pattern. Prices are above the declining 40-week moving average line. The weekly OBV line shows three months of strength and the MACD oscillator gave a cover shorts buy in July and is close to an outright buy signal.

In this Point and Figure chart of SUN, below, we can see a double bottom at $17.50 and an upside breakout at $30. A $38.50 price target is shown.
Bottom line strategy: traders should approach SUN from the long side at current levels and on strength. Risk to $26 for now looking for a rally to the $38-$40 area in the months ahead.