The stock of National Grid plc (LON:NG) gapped down by GBX 5.1 today and has GBX 836.03 target or 8.00% below today’s GBX 908.73 share price. The 8 months technical chart setup indicates high risk for the GBX 34.21 billion company. The gap down was reported on Nov, 24 by Barchart.com. If the GBX 836.03 price target is reached, the company will be worth GBX 2.74 billion less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 0.85% or GBX 7.8 on November 24, hitting GBX 908.73. About 9.57 million shares traded hands or 9.87% up from the average. National Grid plc (LON:NG) has declined 6.68% since April 28, 2016 and is downtrending. It has underperformed by 12.09% the S&P500.
National Grid plc (LON:NG) Ratings Coverage
Out of 18 analysts covering National Grid PLC (LON:NG), 7 rate it a “Buy”, 5 “Sell”, while 6 “Hold”. This means 39% are positive. National Grid PLC has been the topic of 114 analyst reports since July 27, 2015 according to StockzIntelligence Inc. The stock of National Grid plc (LON:NG) earned “Overweight” rating by Barclays Capital on Friday, September 23. The stock of National Grid plc (LON:NG) has “Neutral” rating given on Thursday, November 5 by Goldman Sachs. The firm earned “Hold” rating on Tuesday, January 12 by Deutsche Bank. Beaufort Securities maintained the shares of NG in a report on Wednesday, August 24 with “Buy” rating. The stock has “Underperform” rating given by Credit Suisse on Tuesday, August 18. Credit Suisse maintained the stock with “Underperform” rating in Friday, October 7 report. The firm has “Add” rating given on Thursday, December 24 by AlphaValue. The rating was maintained by Barclays Capital on Thursday, March 17 with “Overweight”. The company was maintained on Friday, May 13 by Berenberg. The rating was maintained by Barclays Capital with “Overweight” on Tuesday, August 18.
More notable recent National Grid plc (LON:NG) news were published by: Seekingalpha.com which released: “National Grid: Is A 4.7% Dividend Yield Enough?” on November 23, 2016, also Fool.com with their article: “The Biggest Threat to National Grid Plc Stock” published on May 16, 2016, Forbes.com published: “National Grid (NGG) Shares Enter Oversold Territory” on October 07, 2016. More interesting news about National Grid plc (LON:NG) were released by: Fool.com and their article: “National Grid plc (ADR) Reports Solid Year, Moves Forward Under New CEO” published on May 27, 2016 as well as Bloomberg.com‘s news article titled: “National Grid Said to Start Auction for Gas Network Stake” with publication date: August 03, 2016.
National Grid plc is an electricity and gas utility firm focused on transmission and distribution activities in electricity and gas in both the United Kingdom and the United States. The company has a market cap of 34.21 billion GBP. The Company’s divisions include UK Electricity Transmission, which is engaged in high voltage electricity transmission networks in Great Britain; UK Gas Transmission, which is the gas transmission network in Great Britain and United Kingdom liquefied natural gas storage activities; UK Gas Distribution, which includes approximately four of the eight regional networks of Great Britain’s gas distribution system, and US Regulated, which includes gas distribution networks, electricity distribution networks and high voltage electricity transmission networks in New York, and New England and electricity generation facilities in New York. It has a 16.72 P/E ratio.
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