Southern Company (The) Stock Forecast
Weaker technical forecast for Southern Company (The) as stock downgraded to Sell Candidate.
(Updated on Apr 16, 2024)
The Southern Company (The) stock price fell by -0.91% on the last day (Tuesday, 16th Apr 2024) from $68.39 to $67.77. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 1.05% from a day low at $67.53 to a day high of $68.24. The price has fallen in 8 of the last 10 days and is down by -5% for this period. Volume has increased on the last day by 460 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, 4 million shares were bought and sold for approximately $292.28 million.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $67.38 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 2.85% during the next 3 months and, with a 90% probability hold a price between $69.30 and $74.19 at the end of this 3-month period.
SO Signals & Forecast
There are few to no technical positive signals at the moment. The Southern Company (The) 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 $69.27 and $69.36. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -5.53%. 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 Southern Company (The) stock
Southern Company (The) finds support from accumulated volume at $67.25 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 $0.710 between high and low, or 1.05%. For the last week the stock has had daily average volatility of 1.74%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SO) For The Upcoming Trading Day Of Wednesday 17th
For the upcoming trading day on Wednesday, 17th we expect Southern Company (The) to open at $67.85, and during the day (based on 14 day Average True Range), to move between $66.64 and $68.90, which gives a possible trading interval of +/-$1.13 (+/-1.67%) up or down from last closing price. If Southern Company (The) takes out the full calculated possible swing range there will be an estimated 3.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $68.20 (0.63%) than the support at $67.25 (0.77%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Southern Company (The) stock A Buy?
The Southern Company (The) stock holds several negative signals and despite the positive trend, we believe Southern Company (The) will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.360 Sell Candidate Downgraded
Predicted Opening Price for Southern Company (The) of Wednesday, April 17, 2024
| Fair opening price April 17, 2024 | Current price |
|---|---|
| $67.85 ( 0.113%) | $67.77 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 68.56 | 1.16 % | |
| R2 | 68.29 | 0.761 % | ||
| R1 | 68.12 | 0.513 % | ||
| Current price: | 67.77 | |||
| Support | S1 | 67.58 | -0.287 % | |
| S2 | 67.41 | -0.534 % | ||
| S3 | 67.14 | -0.93 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 69.77 | 2.95 % | |
| R2 | 69.25 | 2.18 % | ||
| R1 | 68.20 | 0.634 % | ||
| Current price | 67.77 | |||
| Support | S1 | 67.25 | -0.767% | |
| S2 | 66.83 | -1.39% | ||
| S3 | 66.48 | -1.90% |
SO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 16, 2024 | Feb 16, 2024 | Mar 06, 2024 | $0.700 | 1.02% |
| 2 | Oct 16, 2023 | Nov 17, 2023 | Dec 06, 2023 | $0.700 | 0.97% |
| 3 | Jul 17, 2023 | Aug 18, 2023 | Sep 06, 2023 | $0.700 | 1.06% |
| 4 | Apr 17, 2023 | May 12, 2023 | Jun 06, 2023 | $0.700 | 1.01% |
| 5 | Jan 20, 2023 | Feb 17, 2023 | Mar 06, 2023 | $0.680 | 1.04% |
FAQ
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