Trade Idea for The Southern Company (NYSE)

The Southern Company (NYSE)

#SO

    The trend is upward. The descending wave structure is truncated. The Awesome Oscillator shows a bullish divergence, while the Stochastic Oscillator signals oversold conditions. A Pin Bar has formed on the H4 timeframe.

Trading idea:

Buy upon the formation of an upward wave structure, where wave (A) breaks through the trendline of the descending truncated structure.

Stop Loss – 87.00.

Target levels – 92.36; 95.64.