[Tryst]

National grid is breaking out past least years peak:

However, volume not showing any rise.

Caveat, used EMA150 rather than MA150 (daily). Relative strength relative to MIDD.L - might not be exactly the same as your calcs.

I think NG. could be a good defensive play if the market overall market does move into a stage 4A. The utilities sector in the US is one of two sectors that is still has 70% over the 150 day MA. In the LSE the Gas/Water/Utilities is in a stage three but done ok this last week.

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A number of REITs seem to be on the cusp of breaking out of continuations. However, volume does not look good. I've noted GPOR, SREI, HMSO & BLND.

Volume should be increasing on the breakout of a consolidation/continuation pattern. While the consolidation/continuation is forming, volume can be normal/light.