NISOURCE INC (NYSE:NI) Technical Analysis observations.

Our stock screener has detected a potential breakout setup on NISOURCE INC (NYSE:NI). This breakout pattern is observed when a stock consolidates following a strong upward movement. It's important to note that this pattern is based on technical analysis, and the actual breakout outcome is uncertain. However, it might be worth keeping an eye on NYSE:NI.

Zooming in on the technicals.

ChartMill employs a sophisticated system to assign a Technical Rating to every stock in its analysis. This rating, which ranges from 0 to 10, is determined by carefully assessing multiple technical indicators and properties.

Taking everything into account, NI scores 8 out of 10 in our technical rating. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.

• The short term is neutral, but the long term trend is still positive. Not much to worry about for now.
• Looking at the yearly performance, NI did better than 92% of all other stocks. On top of that, NI also shows a nice and consistent pattern of rising prices.
• NI is part of the Multi-Utilities industry. There are 25 other stocks in this industry. NI outperforms 95% of them.
• NI is currently trading in the upper part of its 52 week range. The market is still in the middle of its 52 week range, so NI slightly outperforms the market at the moment.
• In the last month NI has a been trading in the 35.64 - 40.73 range, which is quite wide. It is currently trading near the high of this range.

Check the latest full technical report of NI for a complete technical analysis.

How does the Setup look for NI

ChartMill also assign a Setup Rating to every stock. With this score it is determined to what extend the stock has been trading in a range in the recent days and weeks. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. NI scores a 8 out of 10:

NI has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a support zone below the current price at 39.26, a Stop Loss order could be placed below this zone.

How to trade NI?

For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the zone.

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 article should in no way be interpreted as advice. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.