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SmarTrend Watching for Potential Pullback in Shares of Southern Co After 8.32% Gain

By Amy Schwartz

Southern Co (NYSE:SO) traded in a range yesterday that spanned from a low of $49.90 to a high of $53.35. Yesterday, the shares gained 8.3%, which took the trading range above the 3-day high of $51.22 on volume of 3.3 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Southern Co share prices have moved between a 52-week high of $71.10 and a 52-week low of $41.96 and are now trading 28% above that low price at $53.86 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 1.5%.

SmarTrend recommended that its subscribers protect gains by selling shares of Southern Co on March 11th, 2020 by issuing a Downtrend alert when the shares were trading at $58.92. Since that call, shares of Southern Co have fallen 14.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders southern co

Ticker(s): SO