The Southern Company JR 2017B NT 77 ETF Forecast

Green day on Friday for The Southern Company JR 2017B NT 77 ETF after gaining 0.257%
(Updated on Jun 21, 2024)

SOJC Signals & Forecast

The The Southern Company JR 2017B NT 77 ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $23.33 and $23.19. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 3.72%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The ETF had a Golden Star Signal on Tuesday, May 28, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Support, Risk & Stop-loss for The Southern Company JR 2017B NT 77 ETF

The Southern Company JR 2017B NT 77 finds support from accumulated volume at $22.94 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the ETF tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved $0.120 between high and low, or 0.515%. For the last week the ETF has had daily average volatility of 0.629%

Our recommended stop-loss: $22.45 (-4.03%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 40 days ago.)

Trading Expectations (SOJC) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect The Southern Company JR 2017B NT 77 to open at $23.35, and during the day (based on 14 day Average True Range), to move between $23.17 and $23.61, which gives a possible trading interval of +/-$0.222 (+/-0.95%) up or down from last closing price. If The Southern Company JR 2017B NT 77 takes out the full calculated possible swing range there will be an estimated 1.89% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $23.41 (0.09%) than the support at $22.94 (1.92%), 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 The Southern Company JR 2017B NT 77 ETF A Buy?

The Southern Company JR 2017B NT 77 holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.028 Hold/Accumulate Unchanged

Predicted Opening Price for The Southern Company JR 2017B NT 77 of Monday, June 24, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.