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Southern Co Set to Possibly Rebound After Yesterday's Selloff of 2.80%

By Shiri Gupta

Southern Co (NYSE:SO) traded in a range yesterday that spanned from a low of $45.85 to a high of $47.47. Yesterday, the shares fell 2.8%, which took the trading range below the 3-day low of $46.51 on volume of 2.5 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Southern Co have traded between a low of $42.38 and a high of $52.00 and are now at $45.92, which is 8% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.5%.

SmarTrend recommended that subscribers consider buying shares of Southern Co on October 24th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $45.45. Since that recommendation, shares of Southern Co have risen 3.9%. We continue to monitor SO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders southern co

Ticker(s): SO