Avangrid, Inc. (AGR) owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. AGR, the stock, is bottoming so let's check out the charts.
In the daily bar chart of AGR, below, we can see a bottoming pattern playing out since January. Buying support has developed in the $44 to $42 area in March, May and June. Prices have rallied from June to August.
The On-Balance-Volume (OBV) line shows good improvement from May and tells us that buyers of AGR are more aggressive than buyers. The slope of the 50-day moving average line is bullish and the slope of the 200-day moving average line is bottoming. The Moving Average Convergence Divergence (MACD) is above the zero line but close to it.