National Grid stock price forecast: upside expected as NG trades above key moving averages

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National grid up 0.09% at GBX 1,154.50

Highlights

National Grid issued 7,084,688 new ordinary shares on January 13 under its Scrip Dividend Scheme for the 2025/26 interim dividend.
Following the share issuance, National Grid’s total share count increased to 5,198,968,690, with 4,968,662,639 shares carrying voting rights and 230,306,051 held in treasury.
The corporate action reflects standard dividend-related share structure adjustments as National Grid continues its regulated energy infrastructure operations in the UK and parts of the US.

Share capital adjustment as dividend-linked scrip shares issued

On January 13, 2026, National Grid announced a change in share capital following the issue of 7,084,688 ordinary shares under its Scrip Dividend Scheme for the 2025/26 interim dividend. This brought the total share count to 5,198,968,690, with 230,306,051 shares held in treasury and 4,968,662,639 carrying voting rights. The update reflects normal corporate activity related to dividend payments and share structure adjustment, with National Grid continuing its regulated energy infrastructure business across the UK and parts of the US.

Mixed technical signals as momentum firms amid rangebound trade

Technical momentum is positive, as shown by MACD and ADX on the daily chart, though the ADX at 21.35 denotes only moderate trend strength. The daily RSI is neutral to slightly bullish at 50.27, Stochastic RSI shows oversold conditions, and CCI stays neutral, reflecting a mixed but modestly improving outlook. Bull/Bear Power suggests buyers are prevailing intraday, yet the Awesome Oscillator remains neutral and does not strongly back the current trend. The price experienced a small gap up at the open and has mostly traded around the midpoint of today's range (GBX 1,148.50 – 1,168.00), characterized by subdued volatility and a consolidative tone, as oscillators and momentum readings signal indecision.

Upside bias persists as consolidation limits near-term breakout risk

Over the next 5 trading days, NG is expected to trade between GBX 1,146 and GBX 1,171, in line with typical volatility bands relative to current levels. With all four major weekly technical indicators (MA-50, RSI, ADX, and MACD) on "Buy," there is a strong probability, over 80%, for a price increase this week. The baseline outlook calls for sideways action within the GBX 1,146 – 1,171 zone as the market consolidates recent gains, but a decisive close above GBX 1,171 could lead to further upside, while a sustained drop below GBX 1,146 would be required to trigger a bearish move. Short- and medium-term technicals continue to favor the upside, but near-term momentum is mixed and warrants some caution.

Viktoras Karapetjanc, Traders Union expert, sees technical and macro alignment favoring National Grid plc. The recent scrip dividend reflects robust institutional confidence and sound capital management. Consolidation above key moving averages supports a constructive outlook. Near-term momentum is mixed, but the strong probability for price appreciation remains. "With the fundamental strength of regulated operations and supportive technicals, I expect National Grid to strive for the upper end of its projected range this week."

Last time, analysts noted that National Grid plc is sustaining bullish momentum, trading above key short- and long-term moving averages, with daily MACD and ADX confirming positive trend signals supported by buyer dominance on higher timeframes. However, overbought short-term oscillators and increasing selling pressure on shorter timeframes suggest a likely sideways consolidation within the established volatility band, with support near the 20- and 50-day averages and resistance at the GBX 1,180 level.

Source of Data: NG Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.