Exploring NISOURCE INC's Technical Signals and Breakout Potential.

We've identified NISOURCE INC (NYSE:NI) as a potential breakout candidate based on our stock screener's analysis. This breakout setup pattern suggests that after a strong uptrend, the stock is currently consolidating, potentially signaling a continuation of the trend. Keep an eye on NYSE:NI for further developments.

Insights from Technical Analysis

Every day ChartMill assigns a Technical Rating to every stock. The score ranges from 0 to 10 and is determined by evaluating multiple technical indicators and properties.

Overall NI gets a technical rating of 9 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, NI is showing a nice and steady performance.

• The long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!
• When comparing the yearly performance of all stocks, we notice that NI is one of the better performing stocks in the market, outperforming 87% of all stocks. On top of that, NI also shows a nice and consistent pattern of rising prices.
• NI is one of the better performing stocks in the Multi-Utilities industry, it outperforms 95% of 25 stocks in the same industry.
• NI is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so NI is lagging the market slightly.
• In the last month NI has a been trading in the 35.51 - 38.83 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.

For an up to date full technical analysis you can check the technical report of NI

How do we evaluate the setup for NYSE:NI?

Alongside the Technical Rating, ChartMill assigns a Setup Rating to evaluate the consolidation level of a stock. This rating, ranging from 0 to 10, is updated daily and considers various short-term technical indicators. The current setup rating for NYSE:NI is 9:

Besides having an excellent technical rating, NI also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 38.09. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 37.26, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for NI in the last couple of days, which is a good sign.

How can NYSE:NI be traded?

To potentially initiate a trade, it is common practice to wait for the stock to break out of the consolidation zone. This breakout signifies a potential upward movement, and traders may enter the stock at that point. Conversely, if the stock falls back below the consolidation zone, it may be sold at a loss.

This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.

Our Breakout screener lists more breakout setups and is updated daily.

Keep in mind

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.