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Downtrend Broken Resist.Archive - 6/7/2024 - Sign In to see current Signals. |
Southern Co. (SO) Technical Analysis
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| Summary:
| | Weekly :![Overbought sector](images\bearish.gif) ![Williams' Percentage Range is overbought](images\bearish.gif) ![Lane's Stochastic is strongly overbought](images\bearish.gif) ![Stochastic has declined below the signal line](images\bearish.gif) ![Broken trend resistance line](images\bullish.gif) | | Daily :![The price has fallen below the Parabolic SAR](images\bearish.gif) ![The price has declined below the moving average in the center of the Bollinger Bands](images\alert_signals.gif) Move cursor over the icon to see details.
| | It was the negative week for the Southern Co. (SO). During the week, the SO dropped -2.20 points, or -2.75%, and closed at 77.94 on Friday, June 7, 2024. It was the worst weekly loss since January 19, 2024. SO was trading at average weekly trading volume. SO is a member of Utilities Sector. Utilities is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
Long-term trend: [See SO long-term trend chart] A long-term uptrend had started on March 12, 2009 at 26.48 and reached 80.84 on June 4, 2024. SO gained -54.36 points, or -205.29%, in 794 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 62.39 and resistance is at 86.98. 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 Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.
Medium-term trend: [See SO medium-term trend chart] A medium-term uptrend had started on October 3, 2023 at 61.56 and reached 80.84 on June 4, 2024. SO gained -19.28 points, or -31.32%, in 35 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (69.21) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 medium-term trend.
Weekly Technical Indicators: [See SO weekly technical indicators chart] Weekly Williams' Percentage Range is overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range or strongly overbought weekly Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help. The weekly MACD line is above its signal line since March 15, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.
Short-term trend: [See SO short-term trend chart] A short-term uptrend had started on February 16, 2024 at 65.80 and reached 80.84 on June 4, 2024. SO gained -15.04 points, or -22.86%, in 109 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 69.13 and resistance is at 81.44. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a short-term trend.
Daily Technical Indicators: [See SO daily technical indicators chart] Daily technical indicators are neutral. The daily MACD line is below its signal line since May 21, 2024. 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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