The Southern Company (SO): Let's Hope the H&S Pattern is Avoided

in #money6 years ago

SUMMARY

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The Southern Company (SO) is undergoing a topping process for white wave 5 which would conclude a full impulse move. The below chart shows that a top is not necessarily an event, but a process involving price, pattern and Elliott Waves.

The ABC is shown as an Expanded Flat type. This makes the price to be in a red C wave down sequence which consits of five subwaves. The blue subwaves of white 5 qualify the label and the B wave is certainly above the origin point of red A; which is what an expanded flat is.

IF the red 3 and 4 of C actually generate the RS (purple) of a potentila H&S Top; the implications can be quite scary. The purple line shows that IF such a bearish H&S event gets completed and confirmed in price and volume, then price potential could be as low as $0.44!!

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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Curious as to why you have investments in traditional companies still. Don't you think you could generate better returns by investing in established cryptos and ICOs?

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