The Southern Company Stock Forecast
Stronger technical forecast for The Southern Company stock price after Friday trading.
(Updated on Jun 28, 2024)
The The Southern Company stock price fell by -0.795% on the last day (Friday, 28th Jun 2024) from $77.94 to $77.32. During the last trading day the stock fluctuated 1.12% from a day low at $77.32 to a day high of $78.19. The price has fallen in 5 of the last 10 days and is down by -1.62% for this period. Volume has increased on the last day by 49 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 49 thousand shares were bought and sold for approximately $3.79 million.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $76.74 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 14.34% during the next 3 months and, with a 90% probability hold a price between $87.75 and $95.43 at the end of this 3-month period.
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0L8A.L Signals & Forecast
There are few to no technical positive signals at the moment. The The Southern Company stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $78.28 and $78.57. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 04, 2024, and so far it has fallen -4.00%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for The Southern Company stock
The Southern Company finds support from accumulated volume at $77.25 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.87 between high and low, or 1.12%. For the last week the stock has had daily average volatility of 1.01%.
Our recommended stop-loss: $74.74 (-3.34%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 21 days ago.)
Trading Expectations (0L8A.L) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect The Southern Company to open at $77.61, and during the day (based on 14 day Average True Range), to move between $76.41 and $78.23, which gives a possible trading interval of +/-$0.91 (+/-1.17%) up or down from last closing price. If The Southern Company takes out the full calculated possible swing range there will be an estimated 2.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $77.25 (0.09%) than the resistance at $77.44 (0.16%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is The Southern Company stock A Buy?
The Southern Company holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for The Southern Company of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $77.61 ( 0.374%) | $77.32 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0L8A.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 78.48 | 1.50% |
| R2 | 78.15 | 1.07% |
| R1 | 77.94 | 0.80% |
| Price | 77.32 | |
| S1 | 77.28 | -0.0546% |
| S2 | 77.07 | -0.320% |
| S3 | 76.74 | -0.748% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 78.75 | 1.85% |
| R2 | 77.94 | 0.80% |
| R1 | 77.44 | 0.155% |
| Price | 77.32 | |
| S1 | 77.25 | -0.0905% |
| S2 | 72.81 | -5.83% |
| S3 | 71.97 | -6.92% |
0L8A Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 17, 2024 | May 17, 2024 | Jun 06, 2024 | $0.720 | 0.91% |
| 2 | Feb 16, 2024 | Feb 16, 2024 | Mar 06, 2024 | $0.700 | 1.02% |
| 3 | Nov 17, 2023 | Nov 17, 2023 | Nov 17, 2023 | $0.700 | 1.01% |
| 4 | Aug 18, 2023 | Aug 18, 2023 | Aug 18, 2023 | $0.700 | 1.03% |
| 5 | May 12, 2023 | May 12, 2023 | May 12, 2023 | $0.700 | 0.95% |
FAQ
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