After trading mostly sideways for the better part of 2018 (effective range between $50 on the upper end and $42/$43 on the low end), SO eventually confirmed the bottom was in place and has gone on to gain roughly 45% YTD in 2019 (impressive rip for a utility). So, is this the end of the rally or just a breather before another leg up? Since the beginning of Q4 SO...
Quite simply this utility company has one of the strongest charts within the market, it has a very steady growth trajectory with consistent volume and indicators remain on a fantastic bullish path.
If you are lucky enough to have this stock in your portfolio, cling on to it as the flight to such safety looks set to continue at the expense of they high flyer...
Have been having a look around for sticky revenue stocks and Southern looks quite good. Its had a 30% gain since the start of the year and popped up as a STRONG BUY here on Trading View based on the existing indicator patterns. It seems to have broken resistance and the RSI gives some hints it will continue to run. Worth a watch.
The Southern Company (Southern...
Southern Company is a good play to make now both because all the Southerners are starting to turn on their air conditioning and about to inflate their electric usage dramatically. The utility sector is a great play to hedge against down market environments, and it looks like the big investors are already putting money into the sector to deal with the trade war...
Looking to go long at Weekly Demand Zones in an all uptrend market. Confluence with Monthly and Weekly ascending trend lines and new Monthly Demand Zones formed.
Looking to establish a bullish position in SO either a debit spread or synthetic selling 43p / buying 45 c and buying a 39 put to free up buying power and reduce downside risk
Southern Co.(Reuters Code: SO.N) is a utility company that owns power plants. The chart (attached) shows that it has completed a wave 4 at 47.50 level which coincides with the 200 moving average level, and it's now heading to complete wave 5 toward 52.30$ or the upper end of the channel. Stop level at 47.49$. The down play on this stocks would be an interest rate...
Double Divergence seen on RSI along with price confirmation of SO's most recent bottom. A "W" pattern is also setting up with a break above $45 further solidifying the opportunity for a low risk positional trade when taking the stated yield % into account. Pin bar seen on Heavy volume, and the most recent double bottom also coming on good volume.
SO has retraced almost to the .786 fib which has been major support. I am watching for a bounce to the upside. If so, I will add to my position if it breaks resistance at the .618 fib.
Following an ascending channel
150 & 200 MA are equal.
50 MA crossed above
Expect a 3-4% increase in next month or two.
Pays great div
Revenue growth over 20%
