NGG Price Prediction Next Week
Analysis and Insights
To predict the stock price of National Grid (NGG) for the next trading week, we analyze both technical indicators and recent news sentiment.
Technical Analysis:
The stock price of NGG is currently trading at $64, with a 52-week range of $52.96 to $70.27. The stock has recently crossed above its 200-day moving average, a bullish signal. The MACD is slightly positive, and the RSI is at 58, indicating a neutral position.
News Sentiment:
Recent news indicates that NGG has resumed operations after a brief disruption at Heathrow Airport, which may have minimal impact on the stock price. Additionally, natural gas prices have declined due to warmer weather, but this may not directly affect NGG as it is not a direct natural gas producer.
Fibonacci Levels:
The Fibonacci levels suggest resistance at $64.78 and $65.67, with a pivot point at $63.34. The stock is currently trading near the pivot point, indicating potential upward movement.
Conclusion:
Based on the analysis, the stock price of NGG is expected to rise to $65.50 next week. It is recommended to buy NGG as the technical indicators suggest a bullish trend.
NGG Similar Chart Price Prediction
The price of NGG is predicted to go up 0.45%, based on the high correlation periods with RRX. The similarity of these two price pattern on the periods is 93.58%.
NGG
RRX
Up: 0.45%Similarity: 93.58%
NGG Revenue Forecast
NGG EPS Forecast
NGG VS S&P500
The sale of Grain LNG, renewables assets, and ESO should command high multiples.
Allowed returns should be increased under the RII0-T3 regulatory period starting in April 2026 due to high interest rates.
The new 5-year strategic plan gives visibility on earnings and dividends.
NGG Analyst's Forecast
Jenny Ping
Citigroup
Strong Buy → Hold
2024-10-03
Price Target
n/a
Downside
0%
Citi downgraded National Grid to Neutral from Buy with a price target of 1,050 GBp, up from 985 GBp. The firm continues to like National Grid's earnings growth profile in a sector relative context, which is largely underpinned by continued investments that have political and regulatory support. However, the firm finds the stock fairly valued following the recent rally. It sees better value at other regulated names in the sector such as E.On or Redeia.
