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Uptrend ExhaustionArchive
- 5/10/2024 -
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NiSource Inc. (NI) Technical Analysis
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| Summary:
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| | It was a fourth consecutive positive week for the NiSource Inc. (NI). During the week, the NI climbed 0.14 points, or 0.49%, and closed at 28.68 on Friday, May 10, 2024. Weekly volume was 29% above average.
NI is a member of Utilities Sector. Utilities is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See NI long-term trend chart]
A long-term downtrend had started on April 6, 2022 at 32.59 and reached 22.86 on October 3, 2023. NI lost 9.73 points, or 29.86%, in 77 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 22.03 and resistance is at 29.94. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a long-term trend.
 Medium-term trend: [See NI medium-term trend chart]
A medium-term uptrend had started on October 3, 2023 at 22.86 and reached 29.17 on May 7, 2024. NI gained -6.31 points, or -27.60%, in 31 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (26.55) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See NI weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since February 16, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.
 Short-term trend: [See NI short-term trend chart]
A short-term uptrend had started on April 16, 2024 at 26.26 and reached 29.17 on May 7, 2024. NI gained -2.91 points, or -11.08%, in 21 days. The chart has formed a Rising Channel chart pattern. The trend support level is at 28.40 and resistance is at 29.54. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a short-term trend.
Daily Technical Indicators: [See NI daily technical indicators chart]
Daily Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range.
The daily MACD line is above its signal line since April 19, 2024. This is an indication that the short-term trend is up.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
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