NG..L ends the day on a bearish note closing near the low of the day


National Grid plc (NG.L) Technical Analysis Report for Jul 13, 2018 [< 1 min read]
Highlights
NG..L ends the day on a bearish note closing near the low of the day
NG..L runs into sellers again around 865.50
NG..L closes within previous day's range
TQ Sentiment
Report Sentiment: 50% Bearish
Technical Forecast:
Overview

NG.. L ended the week -2.27% lower at 856.60 after losing £4.80 (-0.56%) today on low volume. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for NG.L
Volatility

Friday's trading range was £9.30 (1.08%), that's slightly below last trading month's daily average range of £9.83. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being slightly above average.

Support/Resistance

Prices are trading close to a key support level at 849.30. After having been unable to move above 863.80 in the prior session, the stock ran into sellers again around the same price level today, failing to move higher than 865.50.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for National Grid plc
ConditionForecastDirectionWinAvgWorstBestEvents
Bearish Bounce off SMA 50 TQ Pro Members Only
White Candle TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
Bullish Break through SMA 200 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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