NISOURCE INC (NYSE:NI) - A Strong Technical Setup for Breakout Investors

NISOURCE INC (NYSE:NI) has been identified as a standout candidate in our Technical Breakout screen, displaying both strong technical health and a high-quality setup pattern. The stock’s recent performance and consolidation suggest potential for a breakout, making it worth a closer look for technical investors.

Technical Strength

NI earns a Technical Rating of 9, reflecting its solid trend and relative strength. Key observations from the technical report include:

• Both short-term and long-term trends are positive, reinforcing the stock’s upward momentum.
• Over the past year, NI has outperformed 84% of all stocks, with consistent gains spread across the period.
• Within the Multi-Utilities industry, NI ranks in the top 5%, demonstrating leadership among peers.
• The stock is trading in the upper range of its 52-week high, though slightly lagging the broader S&P 500.
• Moving averages (20-day, 100-day, and 200-day) confirm bullish alignment, with the 20-day SMA rising.

Setup Quality

With a Setup Rating of 9, NI presents a compelling consolidation pattern:

• Prices have been range-bound between $37.22 and $40.10 over the past month, offering a clear support and resistance structure.
• Volatility has decreased, indicating a potential breakout opportunity.
• A resistance zone sits just above the current price at $40.10, with a breakout above this level serving as a possible entry trigger.
• Support is well-defined near $39.33, providing a logical stop-loss level.
• Recent Pocket Pivot signals and institutional interest further strengthen the setup.

Trade Considerations

A suggested trade setup includes:

• Entry: $40.11 (just above resistance).
• Stop-loss: $39.06 (below support).
• Potential risk: 2.62% per trade.

For investors seeking breakout opportunities, NI’s combination of technical strength and setup quality makes it a noteworthy candidate.

Our Technical Breakout Setups screener provides more high-quality breakout candidates updated daily.

Disclaimer

This is not investment advice. Always conduct your own analysis and consider risk management before trading.