NiSource Inc stock upgraded to Hold/Accumulate.
(Updated on Dec 02, 2022)
The NiSource Inc stock price fell by -0.97% on the last day (Friday, 2nd Dec 2022) from $27.78 to $27.51. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.58% from a day low at $27.29 to a day high of $27.72. The price has risen in 6 of the last 10 days and is up by 8.24% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -3 million shares and in total, 4 thousand shares were bought and sold for approximately $111.29 thousand.
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The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $27.86 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -9.63% during the next 3 months and, with a 90% probability hold a price between $20.53 and $25.18 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
NI Signals & Forecast
The NiSource Inc stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $27.43 and $25.82. 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 Wednesday, November 30, 2022, and so far it has fallen -1.61%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for NiSource Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $25.89 and $24.49. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, NiSource Inc finds support just below today's level at $25.89. If this is broken, then the next support from accumulated volume will be at $24.49 and $24.37.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.430 between high and low, or 1.58%. For the last week the stock has had daily average volatility of 2.03%.
Our recommended stop-loss: $26.34 (-4.24%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (NI) For The Upcoming Trading Day Of Monday 5th
For the upcoming trading day on Monday, 5th we expect NiSource Inc to open at $27.51, and during the day (based on 14 day Average True Range), to move between $26.86 and $28.15, which gives a possible trading interval of +/-$0.645 (+/-2.35%) up or down from last closing price. If NiSource Inc takes out the full calculated possible swing range there will be an estimated 4.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $28.83 (4.82%) than the support at $25.89 (5.87%), 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.145 Open Broker AccountHold/Accumulate Upgraded
Predicted Opening Price for NiSource Inc of Monday, December 5, 2022
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price December 5, 2022||Current price|
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About NiSource Inc
NiSource Inc., an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates through two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 853,000 customers in northern Indiana, as well as approximately 2.4 million residential, commercial, and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, and Maryland... NI Profile
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