National Grid stock price forecast: sustained uptrend as NG advances 1.20%

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National Grid up 1.20% at GBX 1,181

Highlights

National Grid issued 7,084,688 ordinary shares on January 13, 2026, under its Scrip Dividend Scheme for the 2025/26 interim dividend.
Following the new issuance, the company has 5,198,968,690 ordinary shares registered, with 230,306,051 held in treasury.
There are now 4,968,662,639 National Grid shares carrying voting rights as a result of the ongoing scrip dividend program.

Shareholder participation ramps up amid scrip dividend-driven capital changes

On January 13, 2026, National Grid reported a change in its share capital following the issuance of 7,084,688 ordinary shares under its Scrip Dividend Scheme for the 2025/26 interim dividend. The company now has 5,198,968,690 ordinary shares registered, with 230,306,051 held in treasury and 4,968,662,639 shares carrying voting rights. This update relates to ongoing adjustments in capital structure through shareholder participation in the scrip dividend program.

Uptrend persists as momentum indicators show strength amid mild divergences

Technical analysis confirms strong bullish momentum as NG continues to trade above all major moving averages, with the MA-20, MA-50, and MA-200 each supporting the uptrend. The Ichimoku Kijun at GBX 1,148.93 acts as dynamic support, while the nearest resistance levels are near the MA-50 and the round number at GBX 1,200. Momentum indicators such as the MACD and ADX remain constructive, suggesting ongoing buyer strength. RSI and CCI both signal underlying momentum without overbought conditions, while the Stochastic RSI sits neutral but low, indicating mild hesitation. Bull/Bear Power is in overbought territory, and the Awesome Oscillator reinforces the prevailing upward trend, though some oscillators hint at potential exhaustion, pointing to minor divergences amid strong momentum.

Outlook skews bullish as volatility band supports further price gains

For the next five trading days, price action is expected within a GBX 1,168 – 1,194 volatility band relative to current levels. Bullish continuation is favored with more than an 80% probability of gains, according to prevailing momentum signals. A breakout above GBX 1,194 could spur additional upside if buying persists and momentum is confirmed. However, if NG trades below the GBX 1,168 support, a minor pullback is possible, though the overall technical structure remains supportive unless this level fails.

Viktoras Karapetjanc, analyst at Traders Union, sees National Grid's technical setup as robust with clear upward momentum. He notes the recent scrip dividend issue indicates solid shareholder engagement and supports capital flexibility. Karapetjanc believes macro and sentiment factors remain supportive, with buyers in control and volatility in a well-defined GBX 1,168–1,194 range. Continued price strength above moving averages and momentum signals favor further upside in the near term. "As long as GBX 1,168 holds, I view National Grid as well-positioned for more gains this week."

Last time, analysts noted that National Grid plc is trading just above its short- and medium-term moving averages and well above its 200-day average, indicating solid underlying support and a long-term bullish bias. Technical indicators such as MACD and ADX point to positive but moderate momentum, with price expected to consolidate within its established range unless a decisive move above resistance or below support levels occurs.

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.