The bullish DailyPlay we chose for Monday, Nov 26th is Southern (SO). SO is part of the Utilities Sector (XLP). Over the last month, XLU has experienced a 2.03% move lower but its 1m and 6m trend have turned bullish on 11/5 and recently bounced higher off its $54 support level while printing higher highs and higher lows.
Southern’s 1m and 6m trends turned bullish on 11/5 and recently bounced higher off its $45 support level while making higher lows over the past 2 months. With a technical score of 8 (out of 10), SO is a bullish stock that will likely continue higher.
As a stop loss, if SO was to trade below $45 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
Upcoming Event: Stock Purchase Alternative – Selling Cash-Secured Puts – Thurs 11/29 @ 4:15 PM EST