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Trading idea: The Southern Company (NYSE)

#SO

The overall trend is upward. The descending wave patterns are truncated. The support level of 61,50 holds back the sellers.  A bullish divergence has formed on the Awesome Oscillator, while the Stochastic Oscillator signals oversold conditions. The inclined channel of the truncated descending internal pattern is breached.

Trading idea:

Buy when an ascending wave pattern is formed.

Stop Loss: below the support level of 61,50.

Target levels: 63,28; 63,83.

Author: GC
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