eyeQ: National Grid, Strategy, Barclays, Weir

Cryptoassets are very high risk and you should be prepared to lose all your money before you invest

• Bitcoin and crypto stocks: examining the risk

“Our signals are crafted through macro-valuation, trend analysis, and meticulous back-testing. This combination ensures a comprehensive evaluation of an asset's value, market conditions, and historical performance.” eyeQ

• Discover: eyeQ analysis explained | eyeQ: our smart machine in action | Glossary

This series of weekly articles uses eyeQ’s smart machine to highlight 10 stocks whose share price trades at either a discount or premium to eyeQ’s Model Value price (where macro conditions say the share 'should’ trade).

A minus figure in these tables indicates a share trading below eyeQ’s Model Value, implying they are ‘cheap’ versus macro conditions. A plus figure screens as rich because the current share price is above eyeQ’s Model Value.

All companies must have a model relevance above 65%, which means the macro environment is critical and any valuation signals carry strong weight.

Here are definitions of terms used in the analysis:

Model value

Where our smart machine calculates that any stock market index, single stock or exchange-traded fund (ETF) should be priced (the fair value) given the overall macroeconomic environment.

Model relevance

How confident we are in the model value. The higher the number the better! Above 65% means the macro environment is critical, so any valuation signals carry strong weight. Below 65%, we deem that something other than macro is driving the price.

Fair Value Gap (FVG)

The difference between our model value (fair value) and where the price currently is. A positive Fair Value Gap means the security is above the model value, which we refer to as “rich”. A negative FVG means that it’s cheap. The bigger the FVG, the bigger the dislocation and therefore a better entry level for trades.

Long Term model

This model looks at share prices over the last 12 months, captures the company’s relationship with growth, inflation, currency shifts, central bank policy etc and calculates our key results - model value, model relevance, Fair Value Gap.

UK Top 10

Source: eyeQ. Long Term strategic models. Data correct as at 28 August 2026.

National Grid

National Grid (LSE:NG.) is back being a macro-driven stock for the first time in over a year. Our macro relevance score has crossed back above our 65% threshold, suggesting big-picture forces like economic growth and inflation have become critical drivers of the stock.

The macro picture is lacklustre - eyeQ model value has fallen 2% in the last month. The consolation is that the stock has sold even more. In fact, the -6.5% fair value gap is enough to trigger a bullish signal. Ideally, model value would start to turn higher as well - that would add further conviction. But, for now, it’s worth simply knowing that a lot of bad news is already in the price.

International Top 10

Source: eyeQ. Long Term strategic models. Data correct as at 28 August 2026.

Strategy

The first and original digital asset treasury play, Strategy Inc Class A (NASDAQ:MSTR), was a popular way for investors to get exposure to bitcoin. That lasted until crypto exchange-traded funds (ETFs) got regulatory sign-off and then their appeal quickly faded. Now, after a tough 12 months, MSTR - along with the rest of the crypto universe - has started to show signs of recovering.

However, the macro picture sounds a note of caution. Macro is a tailwind - eyeQ model value is up 14% in the last month, but the stock has moved further and faster. It now sits around 16% above our $106.96 macro fair value. That’s not quite enough to trigger a new bear signal, but it is enough to suggest the risk-reward isn’t great up here.