NI closes lower for the 4th day in a row

NiSource Inc (NI) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team


NI closes below its opening price unable to hold early session gains
NI unable to break through key resistance level
NI fails to close above 20-day moving average
NI closes lower for the 4th day in a row
NI ends the day on a bearish note closing near the low of the day


Moving lower for the 4th day in a row, NI finished Thursday at 24.36 losing $0.04 (-0.16%). Today's closing price of 24.36 marks the lowest close since April 26th. Trading $0.36 higher after the open, the market was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move past 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 Candlestick Chart (NI as at May 17, 2018):

Daily technical analysis candlestick chart for NiSource Inc (NI) as at May 17, 2018

Thursday's trading range was $0.63 (2.56%), that's far above last trading month's daily average range of $0.41. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.

Prices are trading close to a key support level at 24.09. Unable to break through the key technical resistance level at 24.64, the share closed below it after spiking as high as 24.98 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward. After having been unable to move lower than 24.35 in the prior session, NiSource Inc. found buyers again around the same price level today at 24.35. After spiking up to 24.98 during the day, the stock found resistance at the 20-day moving average at 24.64.

NI shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.

Market Conditions for NI as at May 17, 2018

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