Southern Company (The) Stock Forecast

Southern Company (The) stock upgraded to Strong Buy Candidate.
(Updated on Apr 25, 2024)

SO Signals & Forecast

Mostly positive signals in the chart today. The Southern Company (The) 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 $72.43 and $70.36. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 9.74%. 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). Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for Southern Company (The) stock

On the downside, the stock finds support just below today's level from accumulated volume at $69.80 and $69.25. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Southern Company (The) finds support just below today's level at $69.80. If this is broken, then the next support from accumulated volume will be at $69.25 and $66.83.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.63 (2.23%) between high and low. For the last week, the stock has had daily average volatility of 2.19%.

Since the Southern Company (The) has been rising for 7 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: $71.72 (-3.56%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)

Trading Expectations (SO) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Southern Company (The) to open at $74.15, and during the day (based on 14 day Average True Range), to move between $73.03 and $75.71, which gives a possible trading interval of +/-$1.34 (+/-1.80%) up or down from last closing price. If Southern Company (The) takes out the full calculated possible swing range there will be an estimated 3.60% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $69.80, some $4.57 (6.14%) from the current price of $74.37, our system finds the risk reward attractive.

Is Southern Company (The) stock A Buy?

Southern Company (The) holds several positive signals and has broken the weak rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 6.438 Strong Buy Candidate Upgraded

Predicted Opening Price for Southern Company (The) of Friday, April 26, 2024

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