Stock Of The Day: Is Southern Company About To Head North?
Portfolio Pulse from Mark Putrino
Southern Company (NYSE:SO) is highlighted as the Stock of the Day due to its significant price level at $88.50, which has transitioned from resistance to support. This change is attributed to market psychology, where remorseful sellers place buy orders at this level, creating a support zone.
October 07, 2024 | 9:58 pm
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Southern Company's stock has reached a critical price level of $88.50, which has transitioned from resistance to support. This shift is due to market psychology, where previous sellers are now buying back at this level, potentially stabilizing the stock price.
The article highlights the $88.50 price level as a significant support for Southern Company, indicating potential for a trend reversal. This is important for investors as it suggests a stable price point and potential for upward movement.
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