Southwest Gas Holdings Inc

SWX has broken below key horizontal support near the 50-SMA and EMAs into a Stage 4 decline, reinforcing a medium-term bearish bias. Short-term price is rejecting rallies into the 9/20/50-EMA zone, favoring immediate sell execution. Long-term trend remains up via a rising 200-day SMA, but near-term weakness dominates. A reclaim and hold above the 50-SMA or EMA zone would invalidate this bearish outlook.

• ↑Secured $600M authorized rate-base increase in Arizona rate case
• ↑Planning ~$4.3B capex over next five years for infrastructure
• ↓California rate-case delays may defer planned revenue