SO pushes through previous session high


Southern Co. (SO) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
SO pushes through key resistance level
SO finds support at 20-day moving average
SO closes higher for the 3rd day in a row
SO pushes through previous session high
SO rises to highest close since May 31st
TQ Sentiment
Technical Forecast:
Overview

Moving higher for the 3rd day in a row, SO ended Thursday at 44.21 gaining $0.43 (0.98%). Today's closing price of 44.21 marks the highest close since May 31st. Closing above Wednesday's high at 43.94, Southern Co. confirms its breakout through the previous session's high having traded $0.48 above it intraday.

Daily chart for SO
Volatility

Thursday's trading range was $0.67 (1.53%), that's slightly below last trading month's daily average range of $0.67. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being below average.

Support/Resistance

Breaking through the key resistance level at 43.90 today, it is now likely to act as support going forward. After trading as low as 43.75 during the day, the share found support at the 20-day moving average at 43.78.

Trend

Although still in a long-term uptrend, the short and medium-term trends both turned bearish already.

Order Flow

As prices are trading close to June's high at 44.89, upside momentum might speed up should the stock mark new highs for the month.

Conclusion

Even though both sentiments are bullish for the next trading day, the classical technical analysis metrics are only slightly bullish while our quantitative statistics show a bullish sentiment.

Market Conditions for Southern Co.
ConditionForecastDirectionWinAvgWorstBest
Bearish Bounce off SMA 50 TQ Pro Members Only
Bullish Bounce off SMA 100 TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
5 Consecutive Higher Closes TQ Pro Members Only
More market conditions identified for TQ Pro members...
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