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Taking a look at what insiders are doing to gauge the Southern Company (SO)’s direction

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Southern Company shares valued at $931,320 were sold by Drake Sloane N on Jul 03 ’24. At $77.61 per share, Drake Sloane N sold 12,000 shares. The insider’s holdings dropped to 16,771 shares worth approximately $1.31 million following the completion of this transaction.

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Also, Greene Kimberly S, sold 10,874 shares, netting a total of over 815,659 in proceeds. Following the sale of shares at $75.01 each, the insider now holds 110,630 shares.

Before that, Greene Kimberly S, had sold 9,126 shares from its account. In a trade valued at $684,815, the Chairman, President & CEO, GPC traded Southern Company shares for $75.04 each. Upon closing the transaction, the insider’s holdings decreased to 9,126 shares, worth approximately $9.51 million.

As published in a research note from UBS on April 04, 2024, Southern Company [SO] has been rated down from a Buy to a Neutral. Analysts at BMO Capital Markets upgraded the stock from ‘”a Market perform”‘ to ‘”an Outperform”‘ outlook in a report released in mid January. As of December 08, 2023, Citigroup has initiated its “Buy” rating for SO. Earlier on November 03, 2023, Scotiabank downgraded its rating. Their new recommendation was “a Sector perform” for SO stock which previously was a “a Sector outperform”.

Analyzing SO Stock Performance

During the last five days, there has been a surge of approximately 0.12%. Over the course of the year, Southern Company shares have jumped approximately 11.67%. Shares of the company reached a 52-week high of $80.84 on 06/04/24 and a 52-week low of $65.80 on 02/16/24. A 50-day SMA is recorded $77.65, while a 200-day SMA reached $71.14. Nevertheless, trading volume fell to 1.43 million shares from 2.77 million shares the previous day.

Support And Resistance Levels for Southern Company (SO)

According to the 24-hour chart, there is a support level at 77.39, which, if violated, would cause prices to drop to 77.07. In the upper region, resistance lies at 78.21. The next price resistance is at 78.71. RSI (Relative Strength Index) is 51.98 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.70, which suggests the price will decrease in the coming days. Percent R is at 70.99%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

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