National Grid: sellers retake control
National Grid stock falls 1.9% as sellers retake control of volume
Our view last week
National Grid logs another near-flat week, down 0.5%, with buyers back in control of volume at 67% for a second week running. Weekly money flow stays positive and the ADX slips to 15.4 — a decline losing steam without reversing yet. On the daily chart the sequence of lower highs stays intact, from the 1251 area to the 1204 area, and the price is boxed between resistance in the 1201 area and support in the 1170 area. The Sell signal has been open for 13 weeks.
This week's summary
This week National Grid dropped 1.9%, with sellers back in full control of volume after two weeks in which buyers had held the upper hand. Price remains squeezed into a very tight band, between support in the 1170 area and resistance in the 1178 area, while the ADX keeps sliding, down to 15.1: the decline, under management since week 15, is losing steam without reversing. The short is up 1.4%.
IQS Phase
74
in tension
Signal Strength
37
downtrend making lower lows, pace holding
Sizing
REDUCED
Ranking
#16 / 46
EU-UK stocks
Trade P&L %
+1.43%
from signal to date, no stop loss
Rank position
ranks 16th among the 46 sell signals for European-UK stocks in our ranking, with a signal strength of 37 out of 100.
Sector context
SectorEuropean
Benchmark ETFEXH9
Sector regimeweak phase
Performanceweekly -0.76% · monthly -5.85%
NG. belongs to the european sector (reference ETF EXH9). The sector is classified weak phase according to our weekly reading.
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