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SO stock escaped the congestion zone and moved out of the cage.
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Bulls are looking to surpass the immediate hurdle of $75.
Southern Company (SO stock) price escaped the consolidation phase and showed a breakout, surpassing the neckline of $72 in the last session. Buyers are regaining their strength.
Reports suggest that Georgia Power, a subsidiary of Southern Company, has stepped up in the ongoing project of a new reactor named “ Vogtle 4”, which is all set to launch at the end of 2023 or early 2024. The reactor has passed the ITAACs – Inspection, Tests, Analyses and Acceptance criteria. This is the necessary procedure and must be completed before fuel can be loaded into a new reactor.
The chart shows that SO stock remained in the narrow range from the past sessions, has now left the neckline of $72, and shows a glimpse of bullishness for the following sessions. If further buying arises and the stock rises, it will reach $75 to retest the stre
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