National Grid shares technical analysis: Uptrend likely to challenge GBX1,218 resistance soon

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National Grid up 1.01% to GBX1,197

Highlights

NG/GBX stock shows strong short- and medium-term bullish momentum but faces long-term resistance below a major moving average.
Momentum and trend indicators show positive undertone, but multiple oscillators indicate overbought conditions and possible intraday hesitation.
Price is projected to consolidate within a GBX1,173 to GBX1,218 range the next 2 to 3 days, with a high probability of further gains if resistance is cleared.

Momentum divergence as indicators show bullish extremes and neutral bias

NG is trading above its MA-20 at GBX1,182 and MA-50 at GBX1,164, while facing longer-term resistance below the MA-200 at GBX1,234. The Ichimoku Kijun at GBX1,179 acts as immediate support. Short-term momentum remains strong, with both MACD and ADX showing a bullish bias; however, RSI at 74.06 signals overbought, and Stoch RSI, CCI, and Bull/Bear Power also reflect extended buying pressure intraday. The Awesome Oscillator is neutral, highlighting some divergence between momentum indicators and overbought oscillators.

High breakout probability as consolidation range narrows

Over the next 2–3 trading days, NG is expected to trade within the GBX1,173 to GBX1,218 band. The probability of an upward move is very high, while a decline appears unlikely in the short term. A sideways consolidation within this range is the baseline scenario. A breakout above GBX1,218 may trigger additional upward momentum, while a drop below GBX1,179 support would increase downside risk toward the lower end of the range.

Viktoras Karapetjanc, analyst at Traders Union, sees National Grid in a strong tactical position above its short- and medium-term moving averages. He notes that technical momentum remains intact, with bullish signals from key trend indicators and limited downside risk in the near term. Upside potential prevails as long as price stays above the GBX1,179 support level. He expects a probable consolidation within the GBX1,173 to GBX1,218 range, but momentum favors bulls. "With intraday indicators overbought but trend strength holding, I believe the path of least resistance still points higher unless GBX1,179 is broken."

Earlier, analysts noted that National Grid’s upgraded earnings outlook and significant investment plans were supporting a bullish view for the stock. The current analysis reinforces this direction, as short-term momentum remains strong and traders should closely monitor the GBX1,218 level for signs of an upside breakout in the days ahead.

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.