The price of National Grid shares has slipped to $55.07 (a 0.6% change) on heavy trading volume. About 2.1 million shares have been traded today, as compared to the 30-day average volume of 509,000 shares. Unusually high volume can signify a potential turning point or validate a breakout.
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.
Over the past year, National Grid has traded in a range of $48.10 to $58.03 and is now at $55.07, 14% above that low. The 200-day and 50-day moving averages have moved 0.14% higher and 0.10% higher over the past week, respectively.
National Grid (NYSE:NGG) has potential upside of 11.8% based on a current price of $55.07 and analysts' consensus price target of $61.55. The stock should hit resistance at its 50-day moving average (MA) of $56.36, as well as support at its 200-day MA of $54.48.