National Grid Transco PLC Stock Forecast
Weaker technical forecast for National Grid Transco PLC as stock downgraded to Sell Candidate.
(Updated on Mar 28, 2024)
The National Grid Transco PLC stock price gained 0.575% on the last trading day (Thursday, 28th Mar 2024), rising from $67.83 to $68.22. During the last trading day the stock fluctuated 0.603% from a day low at $67.97 to a day high of $68.38. The price has risen in 6 of the last 10 days and is up by 1.14% over the past 2 weeks. Volume fell on the last day by -7 thousand shares and in total, 280 thousand shares were bought and sold for approximately $19.10 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $68.76 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect National Grid Transco PLC stock with a 90% probability to be traded between $63.45 and $68.58 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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NGG Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, March 08, 2024, and so far it has fallen -0.84%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The National Grid Transco PLC 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 $67.95 and $66.83. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. The stock had a Golden Star Signal on Friday, March 01, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Friday, March 01, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for National Grid Transco PLC stock
National Grid Transco PLC finds support from accumulated volume at $66.70 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 $0.410 between high and low, or 0.603%. For the last week the stock has had daily average volatility of 1.09%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NGG) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect National Grid Transco PLC to open at $68.19, and during the day (based on 14 day Average True Range), to move between $67.37 and $69.07, which gives a possible trading interval of +/-$0.85 (+/-1.24%) up or down from last closing price. If National Grid Transco PLC takes out the full calculated possible swing range there will be an estimated 2.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $68.58 (0.53%) than the support at $66.70 (2.23%), 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 National Grid Transco PLC stock A Buy?
National Grid Transco PLC holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.449 Sell Candidate Downgraded
Predicted Opening Price for National Grid Transco PLC of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$68.19 ( 0.0440%) | $68.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NGG
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 68.60 | 0.557 % | |
R2 | 68.44 | 0.327 % | ||
R1 | 68.35 | 0.186 % | ||
Current price: | 68.22 | |||
Support | S1 | 68.03 | -0.274 % | |
S2 | 67.94 | -0.415 % | ||
S3 | 67.78 | -0.645 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 68.98 | 1.11 % | |
R2 | 68.80 | 0.85 % | ||
R1 | 68.58 | 0.528 % | ||
Current price | 68.22 | |||
Support | S1 | 66.70 | -2.23% | |
S2 | 66.57 | -2.42% | ||
S3 | 66.28 | -2.84% |
NGG Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Nov 10, 2023 | Nov 22, 2023 | Jan 11, 2024 | $1.19 | 1.74% |
2 | May 23, 2023 | Jun 01, 2023 | Aug 09, 2023 | $2.35 | 3.71% |
3 | Nov 10, 2022 | Nov 23, 2022 | Jan 11, 2023 | $1.03 | 1.64% |
4 | May 24, 2022 | Jun 03, 2022 | Aug 17, 2022 | $2.09 | 2.93% |
5 | Nov 19, 2021 | Dec 02, 2021 | Jan 19, 2022 | $1.16 | 1.56% |
FAQ
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