National Grid stock climbs as buyer support holds above key moving averages

Traders Union
All News
Stocks
National Grid rises 1.13% to GBX1,251

Highlights

National Grid stock maintains an upward trend with recent price action sustained above key moving averages on multiple timeframes.
Technical indicators remain bullish across the board, though overbought signals suggest the rally is stretched in the short term.
Expected trading range for the next few days is GBX1,234 to GBX1,268, with a high probability of continued upward movement and low risk of reversal.

Overbought signals emerge as indicators flag stretched rally

On the h1 chart, NG trades above the MA-20 at GBX1,225 and MA-50 at GBX1,219, while on the daily timeframe, the price remains above the MA-200 at GBX1,237. The Ichimoku Kijun is set at GBX1,229, acting as immediate support. Momentum indicators including MACD and ADX are both in buy mode, while RSI stands at 73.65. Stoch RSI, CCI, and Bull/Bear Power all indicate overbought conditions. The Awesome Oscillator is aligned with bullish momentum, but the cluster of overbought signals highlights that the rally may be stretched in the short term.

Consolidation likely as support and resistance levels define range

In the short term, NG is expected to consolidate within a range of GBX1,234 to GBX1,268, representing the typical volatility band relative to current levels. The most likely scenario is continued consolidation inside this range. A bullish breakout above GBX1,268 could trigger accelerated gains, while a drop below immediate support at GBX1,229 would increase the risk of a short-term pullback.

Viktoras Karapetjanc, expert at Traders Union, sees National Grid trading with strong momentum above key moving averages and robust buy signals on major indicators. He notes that sentiment remains positive, with price action underpinned by macro stability and technical overbought signals suggesting a stretched rally. The analyst expects near-term consolidation between GBX1,234 and GBX1,268, but believes bullish momentum could resume if resistance levels are cleared. "I remain constructive on National Grid while support above GBX1,229 holds, as the setup favors bulls for now."

In a recent review, analysts highlighted National Grid’s ongoing bullish momentum and asset expansion plans as drivers of sustained upside potential. The current setup reinforces this outlook, with overbought signals suggesting that traders should closely monitor GBX1,268 as a potential breakout level for renewed short-term gains.

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.