Consolidation near GBX1,183 resistance: Can National Grid stock regain momentum?

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National Grid dips 0.09% to GBX1,172

Highlights

NG/GBX trades below short-, medium-, and long-term moving averages, indicating persistent downside pressure across all timeframes.
Momentum remains weak, with sell signals from most major indicators and intraday readings confirming oversold conditions.
The expected trading range over the coming days is GBX1,147 to GBX1,191, with a 77% chance of a further move down.

Bearish signals intensify as momentum indicators flag oversold risk

On the hourly chart, NG continues to trade below both its MA-20 at GBX1,181 and MA-50 at GBX1,189, with the daily MA-200 at GBX1,234 serving as longer-term resistance. The Ichimoku Kijun line at GBX1,183 marks immediate overhead resistance. Momentum indicators provide a bearish technical setup: MACD and RSI (currently 32.86, Sell) reflect underlying selling pressure, while ADX is Neutral. Additional signals from Stochastic RSI, CCI, and Bull/Bear Power point to oversold conditions and prevailing seller dominance. The Awesome Oscillator also confirms the negative trend, as price opened with a small 4-point gap and has traded near the session high during a period of low volatility.

Range-bound outlook prevails as upward reversal faces resistance

In the short term, NG is expected to trade within a range of GBX1,147 to GBX1,191 over the coming days. Statistical probabilities point to a 23% chance of an upward move, with a more likely 77% chance of continued downside. The main scenario anticipates further sideways or range-bound trading. A sustained bullish reversal would need NG to break above immediate resistance at GBX1,183, while a drop below support could accelerate downside momentum within the outlined volatility band.

Viktoras Karapetjanc, expert at Traders Union, sees National Grid holding in a technical downtrend amid subdued volatility. He notes the absence of fresh company news as a limiting factor for immediate sentiment shifts. Despite oversold technical signals, the analyst expects sideways or downside action to dominate unless resistance at GBX1,183 is decisively broken. Karapetjanc maintains a constructive outlook, anticipating that any broader recovery in sentiment could eventually trigger renewed buying. "If bulls reclaim GBX1,183, I see scope for a momentum-driven rebound in NG shares."

Earlier, analysts noted that National Grid stock was experiencing persistent weak momentum and a downside bias as it struggled to overcome technical resistance. The latest data reinforce this view, signaling that continued downside risk remains the prevailing scenario, with immediate attention on whether the stock can defend support within the current volatility band.

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.