NI is a stock in the utility sector which has been one of the strongest sectors of the year. The stock has been following a slightly bullish channel since mid-April & seems to be bouncing off support again. Just keep trading the channel until it escapes higher or lower.
NiSource, Inc. is an holding company, which engages in energy solutions. Through its subsidiaries, it provides natural gas, electricity, and other products and services. It operates through the following segments: Gas Distribution Operations, Electric Operations, and Corporate and Other. The Gas Distribution Operations segment focuses in the natural gas service...
Stock scanner has alerted to a bullish engulfing candle in this stock and on investigation, we discover that hedge funds have increased their exposure by 25% in the first quarter.
Someone requested I look into NI and here's my feedback;
1) As much as possible, we want to avoid stocks that have a history of Price Gaps as we wouldn't want to be caught in a situation where we're more than 1R in a loss. This really messes up our risk-reward ratio.
2) It came to my attention that this looks suspiciously like a rising wedge. If we go back to...
NI has formed an ugly declining H&S. When the right shoulder is below the left shoulder, this is a good sign the stock will go down further. Looking at the MACD and OBV, both signal this is a stock in decline. I see support somewhere around $22.00. That number matches up with the November 2016 to February 2017 horizontal channel and the measure rule.
Weekly
The...
NI Expected to open at 40.58 for a Perfect Gap N Go. Watch for nearby support/resistance. To learn this strategy for free, go to www.RealLifeTrading.com
