Trading idea for The Southern Company (NYSE)

The Southern Company (NYSE)

#SO

The trend is upward. The downward wave structures are truncated. The stock is trading between the 365 and 135 EMAs. The Awesome Oscillator shows a bullish divergence, and the Stochastic Oscillator signals oversold conditions.

Trading idea:

Buy upon the formation of an upward wave structure, where wave (A) breaks the sloping channel of the truncated downward structure.

Stop Loss — 95.74.
Target levels — 97.40; 99.65.