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Trade idea: Buy National Grid on uptrend
Richard Perry from Central Markets is looking to buy National Grid following a series of buy signals. He also says the operator of the UK's electricity network has seen an uptrend for the last three years.
Richard says a bullish key one-day reversal on Tuesday also helped drive his decision, as well as a broken sequence of 11 lower daily highs.
As a result, Richard plans to place a stop below the Tuesday low of 727.5p and a more conservative stop below the June low at 711p. He is targeting a re-test of the 794.5p August high.
Norway's state-owned network operator Statnett and Britain's National Grid have said they plan to lay the world's longest electricity cable between their two markets by 2020.
01:08 minutes
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