$SO - Interesting risk reward among macros

NYSE:SO   Southern Company (The)
SO is a utility company that sports a 4.14% dividend. The issue is utility companies usually fair poorly during rising rate environment. Roughly 17% drop for 1% increase. But they do fantastic in a recession since people may stop spending on many items but never on heating/ AC . This gigantic pattern is either a rising channel into breakout or its a gigantic bear flag and will fail. It is backfilling to $62.82 but then could run for a while. Stop at $60 gives a 2% downside. Measured move to $88 gives a $26 profit on $62 investment of 42%. Lovely.

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