Uncovering Noteworthy Technical Analysis Findings for NISOURCE INC (NYSE:NI).

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.

Insights from Technical Analysis

ChartMill assigns a Technical Rating to every stock. This score ranges from 0 to 10 and is updated daily. The score is determined by evaluating multiple technical indicators and properties.

Taking everything into account, NI scores 7 out of 10 in our technical rating. Although NI is a bad performer in the overall market, the technical picture looks good in both the medium and short term time frames.

• The long and short term trends are both positive. This is looking good!
• NI is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so NI is lagging the market slightly.
• In the last month NI has a been trading in a tight range between 25.89 and 27.36.

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

How does the Setup look for NYSE:NI

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the extent of consolidation in the stock based on multiple short-term technical indicators. Currently, NYSE:NI has a 9 as its setup rating:

NI has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a support zone below the current price at 26.87, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for NI in the last couple of days, which is a good sign. Another positive sign is the recent Pocket Pivot signal.

Trading breakout setups.

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed below the consolidation 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 in any way. 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.