news & articles

Your go to place to stay updated with the latest news and fun articles from the finance and crypto worlds.

ALERTS | ICOS | STOCKS | CRYPTOS | OPINIONS

© Copyright GGG Inc.

The Content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. All Content on this site is information of a general nature and does not address the circumstances of any particular individual or entity. Nothing in the Site constitutes professional and/or financial advice, nor does any information on the Site constitute a comprehensive or complete statement of the matters discussed or the law relating thereto.

Shares of SO Now Oversold


Shutterstock photo

In trading on Friday, shares of Southern Company (Symbol: SO) entered into oversold territory, changing hands as low as $43.98 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.

In the case of Southern Company , the RSI reading has hit 27.3 – by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 55.2, the RSI of WTI Crude Oil is at 75.9, the RSI of Henry Hub Natural Gas is presently 68.9, and the 3-2-1 Crack Spread RSI is 51.8. A bullish investor could look at SO’s 27.3 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. Looking at a chart of one year performance (below), SO’s low point in its 52 week range is $43.16 per share, with $53.51 as the 52 week high point – that compares with a last trade of $44.02. Southern Company shares are currently trading off about 1.4% on the day.

Southern Company 1 Year Performance Chart According to the ETF Finder at ETF Channel, SO makes up 7.27% of the Utilities Select Sector SPDR Fund ETF (Symbol: XLU) which is trading lower by about 0.7% on the day Friday.

Click here to find out which 9 other oversold energy stocks you need to know about »

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


Referenced Symbols: SO , XLU
No Comments

Post A Comment