Southern Company (the) Series 2 Stock Forecast

Red day on Friday for Southern Company (the) Series 2
(Updated on Jun 28, 2024)

SOJE Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, June 26, 2024, and so far it has fallen -0.394%. 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). Southern Company (the) Series 2 gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The Southern Company (the) Series 2 stock 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 $20.18 and $19.80. A breakdown below any of these levels will issue sell signals. The stock had a Golden Star Signal on Thursday, May 23, 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 stock in question.

Support, Risk & Stop-loss for Southern Company (the) Series 2 stock

Southern Company (the) Series 2 finds support from accumulated volume at $19.80 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 $0.140 between high and low, or 0.695%. For the last week the stock has had daily average volatility of 0.83%.

Our recommended stop-loss: $19.59 (-3.02%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 51 days ago.)

Trading Expectations (SOJE) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Southern Company (the) Series 2 to open at $20.20, and during the day (based on 14 day Average True Range), to move between $19.99 and $20.41, which gives a possible trading interval of +/-$0.209 (+/-1.03%) up or down from last closing price. If Southern Company (the) Series 2 takes out the full calculated possible swing range there will be an estimated 2.06% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $20.34 (0.69%) than the support at $19.80 (1.98%), 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) Series 2 stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Southern Company (the) Series 2 stock to perform well in the short-term period.

Current score: 1.257 Buy Candidate Unchanged

Predicted Opening Price for Southern Company (the) Series 2 of Monday, July 1, 2024

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