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Downtrend Broken Resist.Archive
- 4/5/2024 -
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Southern Co. (SO) Technical Analysis
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| Summary:
| | Weekly : | | Daily : 
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| | It was the negative week for the Southern Co. (SO). During the week, the SO dropped -1.83 points, or -2.55%, and closed at 69.91 on Friday, April 5, 2024. It was the worst weekly loss since January 19, 2024. Weekly volume was 8% above average.
 Long-term trend: [See SO long-term trend chart]
A long-term uptrend had started on March 12, 2009 at 26.48 and reached 80.57 on August 19, 2022. SO gained -54.09 points, or -204.27%, in 701 weeks. The chart has formed a Broadening Right-Angled, Ascending Wedge chart pattern. The trend support level is at 43.16 and resistance is at 86.34. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Right-Angled, Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Ascending Wedge pattern in a long-term trend.
 Medium-term trend: [See SO medium-term trend chart]
A medium-term downtrend had started on August 19, 2022 at 80.57 and reached 58.85 on January 24, 2023. SO lost 21.72 points, or 26.96%, in 22 weeks. The chart has formed a Symmetric Triangle chart pattern. The price is near the trend resistance line (69.88). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See SO weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since March 15, 2024. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.
 Short-term trend: [See SO short-term trend chart]
A short-term downtrend had started on December 14, 2023 at 73.42 and reached 65.80 on February 16, 2024. SO lost 7.62 points, or 10.38%, in 64 days. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (63.55) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a short-term trend.
Daily Technical Indicators: [See SO daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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