It's a similar situation for electric utility Southern Company (SO) right now. The firm has been rallying for much of 2012, but now this stock is looking very toppy. That's thanks to a double top pattern that's forming in shares.
In short, a double top is a bearish pattern that's formed when a stock makes two tops at approximately the same level, in this case at $48. The trough that separates those two tops is the "breakdown level" -- a move below that price signals longs to exit and more risk-hungry investors to go short. SO's setup is basically textbook.
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