Southern Co.(Reuters Code: SO.N) is a utility company that owns power plants. The chart (attached) shows that it has completed a wave 4 at 47.50 level which coincides with the 200 moving average level, and it's now heading to complete wave 5 toward 52.30$ or the upper end of the channel. Stop level at 47.49$. The down play on this stocks would be an interest rate hike which is bad for utility stocks.
Trade closed: target reached