Nisource Inc. Stock Forecast
Weaker technical forecast for Nisource Inc. as stock downgraded to Hold/Accumulate.
(Updated on Jun 25, 2024)
The Nisource Inc. stock price fell by -0.416% on the last day (Tuesday, 25th Jun 2024) from $28.85 to $28.73. During the last trading day the stock fluctuated 1.07% from a day low at $28.53 to a day high of $28.83. The price has risen in 5 of the last 10 days and is up by 1.52% over the past 2 weeks. Volume has increased on the last day by 76 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 264 shares were bought and sold for approximately $7.58 thousand.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 5.25% during the next 3 months and, with a 90% probability hold a price between $28.96 and $31.48 at the end of this 3-month period.
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0K87.L Signals & Forecast
The Nisource Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $28.33 and $28.57. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen -1.84%. Further fall is indicated until a new bottom pivot has been found. Nisource Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Nisource Inc. stock
Nisource Inc. finds support from accumulated volume at $28.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.305 between high and low, or 1.07%. For the last week the stock has had daily average volatility of 0.91%.
Our recommended stop-loss: $27.53 (-4.17%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 48 days ago.)
Trading Expectations (0K87.L) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Nisource Inc. to open at $28.70, and during the day (based on 14 day Average True Range), to move between $28.39 and $29.07, which gives a possible trading interval of +/-$0.337 (+/-1.17%) up or down from last closing price. If Nisource Inc. takes out the full calculated possible swing range there will be an estimated 2.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $28.77 (0.14%) than the support at $28.20 (1.84%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Nisource Inc. stock A Buy?
Nisource Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.381 Hold/Accumulate Downgraded
Predicted Opening Price for Nisource Inc. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $28.70 ( 0.122%) | $28.73 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0K87.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 29.00 | 0.94% |
| R2 | 28.88 | 0.534% |
| R1 | 28.81 | 0.284% |
| Price | 28.73 | |
| S1 | 28.58 | -0.527% |
| S2 | 28.51 | -0.778% |
| S3 | 28.39 | -1.18% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 29.01 | 0.97% |
| R2 | 28.79 | 0.209% |
| R1 | 28.77 | 0.137% |
| Price | 28.73 | |
| S1 | 28.20 | -1.84% |
| S2 | 28.04 | -2.40% |
| S3 | 27.62 | -3.86% |
0K87 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 31, 2024 | Jul 31, 2024 | Aug 20, 2024 | $0.265 | 0.94% |
| 2 | Apr 29, 2024 | Apr 29, 2024 | May 20, 2024 | $0.265 | 0.91% |
| 3 | Feb 02, 2024 | Feb 02, 2024 | Feb 20, 2024 | $0.265 | 1.01% |
| 4 | Oct 30, 2023 | Oct 30, 2023 | Oct 30, 2023 | $0.250 | 1.00% |
| 5 | Jul 28, 2023 | Jul 28, 2023 | Jul 28, 2023 | $0.250 | 0.90% |
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