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Where NiSource Stock Could Go in the Near Term

Vineet Kulkarni - Author

Nov. 20 2020, Updated 12:44 p.m. ET

Chart indicators

On February 17, 2017, NiSource (NI) stock was trading at a 2% premium and 3% discount to its 50-day and 200-day MA (moving averages), respectively. Its 200-day MA, at levels near $23.60, may now act as a resistance, while its 50-day MA, at levels near $22.20, may act as a support in the short term.

Remember, when a stock rises above a particular moving average, it’s a bullish sign. When it falls below that average, it’s bearish.

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Relative strength index

NiSource’s RSI (relative strength index) stands at 67. The RSI is a momentum indicator made up of values between zero and 100. Movements below 30 are considered to be in the “oversold” zone, while movements above 70 are considered to be in the “overbought” zone and can hint at an impending reversal in the stock price.

Short interest in NiSource fell substantially

Short interest in NiSource fell 27.4% on January 31, 2017. The total shorted shares in the company were 8.2 million on January 13, 2017, and fell to 6 million by January 31, 2017. This fall in short interest may mean that fewer investors are now expecting the stock to fall in the near term from its current levels.

Remember, short interest indicates the number of a company’s shares that have been sold short and haven’t been covered. The number also helps track investor sentiment.

Notably, you can read about what’s happening with the most volatile S&P 500 Utilities (XLU) stocks in Market Realist’s series NRG Energy Continued Its Bull Run and Gained 4% on February 15.


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