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Archive
- 5/10/2024 -
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Southern Co. (SO) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a fourth consecutive positive week for the Southern Co. (SO). During the week, the SO gained 2.29 points, or 3.02%, and closed at 78.14 on Friday, May 10, 2024. Weekly volume was 61% above average.
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 80.57 on August 19, 2022. SO gained -54.09 points, or -204.27%, in 701 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 62.22 and resistance is at 86.70. 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 February 16, 2024 at 65.80 and reached 78.73 on May 10, 2024. SO gained -12.93 points, or -19.65%, in 12 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (68.31) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. 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 relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. 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 April 16, 2024 at 67.53 and reached 78.73 on May 10, 2024. SO gained -11.20 points, or -16.59%, in 24 days. The price is now at the 5.27% retracement level.
 Daily Technical Indicators: [See SO daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range and Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal.
The daily MACD line is above its signal line since April 18, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.
The distance between the Bollinger Bands is 109.12% higher then one year average. It indicates the period of high volatility of the stock price. 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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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Utilities |
12 |
| Industry |
Electric Utilities |
118 |
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| Daily Trend |
| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Low |
67.53 |
| Low Date |
04/16/2024 |
| High |
78.73 |
| High Date |
05/10/2024 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Broadening Ascending Wedge |
| Status |
Broken Resistance |
| Resistance |
75.69 |
| Support |
68.31 |
| Low |
65.80 |
| Low Date |
02/16/2024 |
| High |
78.73 |
| High Date |
05/10/2024 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
61.56 |
| Low Date |
10/03/2023 |
| High |
78.73 |
| High Date |
05/10/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
58.85 |
| Low Date |
01/24/2023 |
| High |
78.73 |
| High Date |
05/10/2024 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Broadening Ascending Wedge |
| Status |
Valid |
| Resistance |
86.70 |
| Support |
62.22 |
| Low |
26.48 |
| Low Date |
03/12/2009 |
| High |
80.57 |
| High Date |
08/19/2022 |
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