Trading (SO) With Integrated Risk Controls
March 09, 2024, 05:36 am ET, BY James G.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for SO
- Buy SO slightly over 67.94 target 71.02 stop loss @ 67.74 Details
The technical summary data tells us to buy SO near 67.94 with an upside target of 71.02. This data also tells us to set a stop loss @ 67.74 to protect against excessive loss in case the stock begins to move against the trade. 67.94 is the first level of support below 69.01 , and by rule, any test of support is a buy signal. In this case, support 67.94 is being tested, a buy signal would exist.
- Short SO slightly under 71.02, target 67.94, stop loss @ 71.23 Details
The technical summary data is suggesting a short of SO as it gets near 71.02 with a downside target of 67.94. We should have a stop loss in place at 71.23though. 71.02 is the first level of resistance above 69.01, and by rule, any test of resistance is a short signal. In this case, if resistance 71.02 is being tested, a short signal would exist.
Swing Trading Plans for SO
- Buy SO slightly over 69.13, target 71.02, Stop Loss @ 68.93 Details
If 69.13 begins to break higher, the technical summary data tells us to buy SO just slightly over 69.13, with an upside target of 71.02. The data also tells us to set a stop loss @ 68.93 in case the stock turns against the trade. 69.13 is the first level of resistance above 69.01, and by rule, any break above resistance is a buy signal. In this case, 69.13, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short SO slightly near 69.13, target 67.94, Stop Loss @ 69.33. Details
The technical summary data is suggesting a short of SO if it tests 69.13 with a downside target of 67.94. We should have a stop loss in place at 69.33 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 69.13, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Day Trading Plans for SO
- Buy SO slightly over 69.13, target 69.88, Stop Loss @ 68.97 Details
If 69.13 begins to break higher, the technical summary data tells us to buy SO just slightly over 69.13, with an upside target of 69.88. The data also tells us to set a stop loss @ 68.97 in case the stock turns against the trade. 69.13 is the first level of resistance above 69.01, and by rule, any break above resistance is a buy signal. In this case, 69.13, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short SO slightly near 69.13, target 67.94, Stop Loss @ 69.29. Details
The technical summary data is suggesting a short of SO if it tests 69.13 with a downside target of 67.94. We should have a stop loss in place at 69.29 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 69.13, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Check the time stamp on this data. Updated AI-Generated Signals for Southern Company (the) (SO) available here: SO.
SO Ratings for March 09:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Strong |
Neutral |
Neutral |
| P1 |
0 |
0 |
64.59 |
| P2 |
69.02 |
67.44 |
67.94 |
| P3 |
69.88 |
69.13 |
71.02 |
AI Generated Signals for SO
Blue = Current Price
Red= Resistance
Green = Support
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Fundamental Charts for SO:
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