NGG - National Grid Transco PLC Tue 24'th Jan 2017
Stock analysis for Tue 24'th Jan 2017 (Updated daily)
Hold candidate since 2017-01-24
National Grid Transco PLC Stock Analysis
National Grid Transco PLC fell by -0.32% in the last day, from USD 58.72 to USD 58.53. The price has risen in 6 of the last 10 days days and is up by 1.53% over the past 2 weeks. Volume increased in the last day by 210 122 shares, but on falling prices. This is may be an early warning and risk is increased slightly for the next couple of days. In total, 710 023 shares bought and sold for approximately USD 41.56 million.
National Grid Transco PLC lies in the middle of a wide and weak falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -9.0% during the next 3 months and, with 90% probability hold a price between USD 48.48 and USD 54.51 at the end of this period.
National Grid Transco PLC holds buy signals from both short- and long-term moving averages. In addition, 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 USD 58.53 and USD 58.12. A break down below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Monday January 23, 2017, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Relative Strength Index (RSI)
RSI14 is 55 and the stock is currently not being overbought or oversold
Support & Resistance
National Grid Transco PLC finds support from accumulated volume at USD 58.33, USD 58.13, and USD 57.68. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 58.60, USD 60.09 and USD 64.85.
The stock is about to test the resistance from accumulated volume at USD 58.60 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved USD 0.37 (0.63%) between high and low. For the last week, the stock has had a daily average volatility of 0.92%.
Our recommended stoploss: USD 58.26 (-0.46%) ( criteria: risk and position in trend)
National Grid Transco PLC holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend a hold or accumulate position awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Hold/Accumulate.