$NI NISOURCE INC BULLISH ENGULFING CANDLEStock scanner has alerted to a bullish engulfing candle in this stock and on investigation, we discover that hedge funds have increased their exposure by 25% in the first quarter.
NOU trade ideas
Feedback on NISomeone requested I look into NI and here's my feedback;
1) As much as possible, we want to avoid stocks that have a history of Price Gaps as we wouldn't want to be caught in a situation where we're more than 1R in a loss. This really messes up our risk-reward ratio.
2) It came to my attention that this looks suspiciously like a rising wedge. If we go back to basics, a rising wedge after a downtrend signals a continuation pattern where the main trend (i.e. Downtrend) is to continue.
Then again, markets are irrational and if you still insist on trading NI, do wait for the breakout, retracement and confirmation before entry. Cheers!
NI SHORTDue to RSI, STOCH, and TREND LINES, I believe that since the event of the gas lines exploding, the price will tank.
$NI #Short #stock #markets #utilities #downNI has formed an ugly declining H&S. When the right shoulder is below the left shoulder, this is a good sign the stock will go down further. Looking at the MACD and OBV, both signal this is a stock in decline. I see support somewhere around $22.00. That number matches up with the November 2016 to February 2017 horizontal channel and the measure rule.
Weekly
The weekly does not look good. look how much further the MACD still has to get below zero! Look at the OBV. It is down. This is not good stuff.
Monthly
Same story for the monthly chart. We a lot further to go.
I know many have speculated that tax reform and regulatory relief will help utilities. It has and it might! However, I think the declining dollar, rising oil prices, rising inflation and investors thrust for growth stocks will all be serious headwinds.
Alas, i do not trade on fundamentals. I trade on the trend. The trend is down for this stock.
NI Day Trade Perfect Gap N Go (Brad Reed Jan15,2015) NI Expected to open at 40.58 for a Perfect Gap N Go. Watch for nearby support/resistance. To learn this strategy for free, go to www.RealLifeTrading.com
