National Grid stock falls around 1.5% as technical selling pressure persists despite AGM approvals

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National grid slips 1.52% today

Highlights

National Grid shareholders approved all 22 AGM resolutions, setting the stage for at least £70 billion in capital investment over five years.
The company reported a record £11.6 billion capital expenditure for the year, targeting long-term asset and earnings growth despite ongoing share price pressure.
Technical momentum is mixed with short-term selling but long-term bullish bias; five-day expected range is GBX1,216–1,248 with high upward probability.

Shareholder backing for record investment fails to lift price action

National Grid held its 2026 Annual General Meeting, where all 22 proposed resolutions were approved by shareholders representing 76.92% of issued share capital. The resolutions included director elections and re-elections, approval of the annual report and accounts, a final dividend declaration, share authority measures, and re-appointment of Deloitte LLP as auditor. The company also reported a record £11.6 billion in capital investment for the year and set plans for at least £70 billion in capital spending over the next five years, aiming for asset and earnings growth, though price action has remained under broader selling pressure.

Anton Kharitonov, expert at Traders Union, notes persistent downside in National Grid despite approval of all AGM proposals. He sees technical weakness as the price remains below both the 20- and 50-day moving averages. Kharitonov highlights that constructive momentum signals are overshadowed by renewed selling pressure and elevated volatility. He is skeptical that record investment or capital spending plans will quickly translate into share price support, especially as risk of a move toward GBX1,216 remains. "Investors should stay defensive until National Grid decisively regains key moving averages and downside volatility subsides."

Viktoras Karapetjanc, expert at Traders Union, emphasizes that National Grid’s AGM was a strong signal of institutional confidence. He remains positive on the company’s forward guidance, pointing to robust capital investment plans and clear majority support for management. Karapetjanc sees the long-term bullish structure intact, with the 200-day moving average offering a strong foundation for further growth. Momentum indicators and market setup favor an upside scenario, as price action stabilizes. "Further upward moves are likely as fundamentals and sentiment both support medium-term gains."

Mixed momentum as buyers clash with overbought signals near support

National Grid is trading just below both the 20-day and 50-day moving averages at GBX1,232 and GBX1,236, while staying above the 200-day at GBX1,221. This setup reflects short- and medium-term selling pressure, but the long-term trend remains bullish with support from both the 200-day average and the Ichimoku Kijun, and the near-term trading range is defined by a ceiling at GBX1,232 and a floor at GBX1,225. Momentum signals are broadly constructive: the Moving Average Convergence Divergence (MACD) signals a buy, while the Average Directional Index (ADX) remains neutral, indicating uncertainty around trend strength. The Relative Strength Index (RSI), Commodity Channel Index (CCI), and Awesome Oscillator (AO) are all in buy territory, and the Bull/Bear Power (BBP) value shows buyers dominating. However, BBP also signals overbought conditions and the Stochastic RSI is neutral, creating mild divergence within oscillators. The price now sits near the session low with intraday volatility at 1.26%, confirming renewed pressure after the open that matches the daily downside momentum.

Previously it was reported that National Grid maintained a stable outlook underpinned by strong governance and reliable capital distribution, despite mixed momentum signals. The latest developments reinforce this foundation but highlight increased near-term pressure, with investors advised to monitor for a potential upside reversal if the price sustains above GBX1,232 in the coming sessions.

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

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