Technical Analysis: Based on the latest price data and technical indicators, SO closed at $83.48 on Friday with a 1.48% gain. The RSI at 51.15 indicates a neutral momentum, neither overbought nor oversold. The MACD at -0.28 suggests a slightly bearish signal in the short term.
Price Target Analysis: Using Fibonacci levels, key resistance and support levels for SO are:
News Sentiment: Recent news shows positive momentum:
Price Prediction for Next Week: Based on technical indicators and news sentiment:
Trading Recommendation: BUY with entry at current price ($83.48) with following parameters:
The positive fundamentals, upcoming earnings catalyst, and technical support levels provide a favorable setup for a long position. The stock's 200-day moving average at $82.58 provides additional support.
The price of SO is predicted to go up 3.08%, based on the high correlation periods with DUK. The similarity of these two price pattern on the periods is 95.49%.
SO
DUK
Southern has excellent regulatory relationships due in large part to low utility rates and solid reliability. Although operational performance is the foundation for these relationships, management maintains strong political ties as well.
Cash flow should increase now that the Vogtle project is complete, supporting a stronger balance sheet and faster dividend growth.
Business investment and customer growth remains strong in Southern's primary Southeast U.S. service territory, supporting growing energy demand.
Barclays
Price Target
$71 → $83
Upside
-8.62%
Jefferies
Price Target
$94
Upside
+4.79%