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SmarTrend Watching for Potential Pullback in Shares of Southern Co After 2.49% Gain

By Nick Russo

Southern Co (NYSE:SO) traded in a range yesterday that spanned from a low of $57.99 to a high of $58.38. Yesterday, the shares gained 2.5%, which took the trading range above the 3-day high of $58.19 on volume of 2.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Southern Co has traded in a range of $41.96 to $71.10 and is now at $58.97, 41% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 2%.

SmarTrend is tracking the current trend status for Southern Co and will alert subscribers who have SO in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders southern co

Ticker(s): SO