NI still stuck within tight trading range
NiSource Inc. (NI) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
Moving higher for the 2nd day in a row, NI ended the week 0.08% higher at 26.61 after gaining $0.10 (0.38%) today. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (NI as at Aug 10, 2018):
Friday's trading range was $0.36 (1.35%), that's slightly below last trading month's daily average range of $0.38. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 26.34 and 26.91 which it has been in now for the last trading week.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying might accelerate should prices move above the close-by swing high at 26.91 where further buy stops could get triggered. Selling might speed up should prices move below the nearby swing low at 26.35 where further sell stops could get activated. With prices trading close to this year's high at 27.01, upside momentum might accelerate should NiSource Inc. be able to break out to new highs for the year.