S&P 500 Market Outlook: Bullish
Bullish Trade: SO $60.80 – Utilities
The bullish DailyPlay we chose for Thursday, Sept 19th is Southern Co (SO). SO is part of the Utilities Sector (XLU). XLU has rallied 3.30% higher over the past month and its 1m and 6m trend turned bullish on Aug 18th while recently bouncing higher off its $63 support level.
Southern Co’s 1m and 6m trend turned bullish on Aug 6th and recently bounced higher off its $59 support level. With a technical score of 9 (out of 10), SO is a strong stock that will likely continue higher.
As a stop loss, if SO was to trade below $59 for multiple days, this would invalidate our analysis and suggest cutting losses on the trade.
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