National Grid Been in a solid uptrend for Many years .
Strong Support on the Green line (great entry point) and resistance on the red line (sell)
Just about to turn Green on the Monthly MACD .
Long target 1300 in the coming months.
The blue zone was my zone of interest due to it being the Monthly Kijun level. I was looking for a good rejection candle and we got that today with reasonable volume.
Entry:910.1
SL: 925.8
TP: 866.5
R: 2.78
My study in NG,
A good R:R on this trade, I have left a decent stop loss but I will probably close it if the price drops back through the .382 at 893
Stochastic looks bullish and sentiment is strong.
TP 1 941
TP2 990
Would love to hear your view, positive or negative!
LSE:NG.
A stock I will be keeping a close eye on this week is NG or national Grid a ulisities giant with a market cap of 29 billion, it is the largest UK provider of energy and has a presence in the US market. NG has struggled since May to break the 864 level and is approaching that zone again, ten day volume is massively below its longer run three month average...
National Grid's current resistance is @ 805.9 and the support has been raising over the few days gradually. For this to breakout and continue to rise higher the chart needs to continue to consolidate in the last part of the ascending wedge. If the chart plays out as expected my game plan would be the following:
Trigger: 809.9
TP: 839.9
SL: 803.9
RR: 5:1
Once I'm...
Invest in stock stock like NGG will give you exporesure on utilities sector , this stock has low beta and it pays 4.79% dividend 60*4.79%=2.874 and with growth potential , i did a quick valuation on this stock and i got the fair value of this stock is around 80~ which matches my target profit using technical analysis
Since the 2010 rally NGG has inverted its Volume distribution pattern.
VPOC was low near 40's, and has thickened up considerably in the 70's region to build out it's profile and migrate Value higher.
Yes, Value has migrated higher, implying that the market accepts higher prices for NGG.
It is down trending now, but a look at the entire profile since 2010 shows...
According to From Stan J "Recommended as a best buy now on Motley Fool"
I like this buy low location for this utilities company. This is a longer term (1 year + minimum) perspective for me and likely others. Just FYI if you are / were interested.
I can't show higher timeframe weekly count in TView for same post, but the lows right now are in momentum alignment with a 4th wave matching a 2nd wave from 2010.
Could possibly be forming a Bullish Leading Diagonal (which unfortunately will look corrective in character in the Bullish direction). So just wait for a strong pop above, say 60, because it should be...
