Southern (SO) – Bullish DailyPlay for Monday Nov 26th, 2018
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