Southern Company Trading Analysis (07/11/2024)
The trend is ascending. The downward inner wave structure is truncated. The stock is trading in a range between 365 and 135 ЕМАs. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an oversold condition.
Trading idea:
- Buy at the beginning of the formation of the ascending wave structure, when the wave A breaches the sloping channel of the descending truncated structure.
- Stop-loss at 87.07.
- Price targets at 89.80 and 91.80.
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