National Fuel Gas Co. (NFG) is one of the earliest gas utility companies in the United States. The company is scheduled to announce its fiscal third-quarter results after the close of trading here on Thursday, so let's check out National Fuel's charts and indicators.
In this daily bar chart of NFG, below, we can see that prices have traveled higher the past 12 months. Prices are trading above the rising 50-day moving average line and above the 200-day line. The 200-day line was successfully tested in July. The daily On-Balance-Volume (OBV) line has moved higher the past year and confirms the price gains. The Moving Average Convergence Divergence (MACD) oscillator is back above the zero line in a bullish alignment.
In this weekly Japanese candlestick chart of NFG, below, we can see an uptrend going back to early 2020. Prices have tested the rising 40-week moving average line a number of times. The weekly OBV line shows a rise from July 2021. The MACD oscillator has been positive since early 2021 and is poised to turn upward.
In this daily Point and Figure chart of NFG, below, we can see an upside price target in the $93 area.
In this weekly Point and Figure chart of NFG, below, we can see the same price target of $93 as we see on the daily chart above.
Bottom line strategy: I have no knowledge of what National Fuel Gas will report to shareholders, but aggressive traders could probe the long side of NFG on available weakness Thursday or Friday. Risk to $66. The $93 area is our price target for now.
