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National Grid: The Winning Streak Continues (NGG)

Published on Tue, 05/14/2013 - 14:28
By Adrienne Chilton

Shares of National Grid (NYSE:NGG) traded at a new 52-week high today of $64.52. Approximately 296,000 shares have changed hands today, as compared to an average 30-day volume of 468,000 shares.

In the past 52 weeks, National Grid share prices have been bracketed by a low of $49.55 and a high of $64.52 and are now at $64.52, 30% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.9%.

National Grid PLC owns, operates and develops electricity and gas networks. The Group's electricity transmission and gas distribution networks are located throughout the United Kingdom and in the north-eastern section of the United States. They also own liquefied natural gas storage facilities in Britain and provide infrastructure services to the mobile telecom industry.

National Grid (NYSE:NGG) defies analysts with a current price ($64.52) 7.7% above its average consensus price target of $59.55. The stock should discover initial support at its 50-day moving average (MA) of $59.41 and subsequent support at its 200-day MA of $56.41.

By Adrienne Chilton
achilton@fnno.com

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