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Watch for Shares of Southern Co (SO) to Approach Support at $47.01

By Amy Schwartz

Shares of Southern Co (NYSE:SO) have bearishly opened below the pivot of $47.35 today and have reached the first support level of $47.13. Analysts will be watching for a cross of the next downside pivot targets of $47.01 and $46.67.

Southern Co has overhead space with shares priced $47.15, or 7.2% below the average consensus analyst price target of $50.81. Southern Co shares should encounter resistance at the 50-day moving average (MA) of $50.07 and support at its 200-day MA of $46.66.

In the past 52 weeks, Southern Co share prices have been bracketed by a low of $46.20 and a high of $54.64 and are now at $47.15, 2% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Southern Co on June 27th, 2017 by issuing a Downtrend alert when the shares were trading at $49.64. Since that call, shares of Southern Co have fallen 4.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: pivot alerts southern co

Ticker(s): SO