National Grid shares technical analysis: Failed breakout at GBX1,196 resistance keeps gains in check

Traders Union
All News
Stocks
National Grid slips 0.59% to GBX1,188

Highlights

Shares of National Grid trade below key moving averages across all timeframes, indicating persistent selling momentum.
Oscillator signals are mixed, with some pointing to oversold conditions but others showing weak or neutral trend strength.
Over the next 2 to 3 days, the stock is expected to move between GBX1,174 and GBX1,205, with a 75% probability of a downward move.

Conflicting signals as resistance holds and momentum remains weak

On the hourly chart, the price is holding below the MA-20 and MA-50, while remaining under the MA-200 on the daily timeframe. The Ichimoku Kijun level is set at GBX1,196, which serves as immediate resistance. MACD is presenting a strong buy signal, whereas the ADX reading is neutral, suggesting a lack of defined trend strength. The RSI stands at 44.57, reflecting a selling signal. Both Stochastic RSI and CCI indicate oversold conditions, suggesting downside exhaustion, even as Bull/Bear Power highlights intraday dominance by sellers. The Awesome Oscillator remains neutral, providing no confirmation for a move in either direction.

Sideways bias as volatility bands contain breakout risks

Looking ahead, the expected trading range for the next two to three sessions is forecast between GBX1,174 and GBX1,205, reflecting the typical volatility band relative to current levels. The baseline scenario calls for price action to remain largely sideways within this band. There is a 25% probability of a break to the upside above GBX1,196 resistance, which could fuel further gains, while a failure to hold the lower bound near GBX1,174 may set the stage for a more decisive decline.

Anton Kharitonov, analyst at Traders Union, sees National Grid trading in a technically weak state, with the price still capped by key moving averages and indicators showing indecision. He notes mixed signals — some hint at oversold exhaustion, while others suggest sellers remain in control. The base case is for continued sideways action unless either GBX1,196 or GBX1,174 is broken. "Until buyers reclaim momentum above technical resistance, I remain cautious and do not expect meaningful upside," says Kharitonov.

Earlier, analysts noted that National Grid shares were consolidating within a defined range as investors watched for signals on project execution and regulatory discipline. The current technical setup reaffirms this consolidative behavior, with attention now turning to whether the price can establish a firmer direction upon testing the GBX1,196 resistance or the GBX1,174 support 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

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.