LSE stock pick of the day : National Grid Plc Ord

LSE stock pick of the day

RECOMMENDATION Sell

TARGET 840

The secondary trend of National Grid Plc  is Bullish and from last few trading session it's showing selling pressure and did not manages to sustain at higher level.Stock is facing support at the level of 869, breaching of it can show side movement one can initiates the short position in the stock below the level of 869 with Stop loss of 885 for the target of 840.

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CHART FORMATION:-

Stock is consolidating with negative bias breaching of the support level can show the down side movement.

It's 50 DMA has given the breack out below it's 200 DMA with negative bias , it is trading below both the moving averages which is indicating selling pressure in the stock.

Technical Chart

INDICATORS:-

RSI is trading below the level of 50 and consolidating with negative bias.

MACD & Signal line is manages to sustain below zero level line with negative bias.

ADX, Negative DI is sustaining above the positive DI which is indicating weakness in the stock.