ENBRIDGE INC (NYSE:ENB) – A High Growth Momentum Stock with Strong Technical Setup

ENBRIDGE INC (NYSE:ENB) has been identified as a stock with both high growth momentum and a favorable technical setup. The company’s strong earnings growth, revenue acceleration, and solid technical foundation make it a candidate worth examining for investors focused on momentum strategies.

Growth Momentum Highlights

ENB’s High Growth Momentum Rating of 6 reflects positive trends in earnings and revenue:

• EPS Growth (TTM): +35.8% year-over-year.
• Recent Quarterly EPS Growth: +54.4% in the latest quarter, following a sharp rebound from prior volatility.
• Sales Growth (TTM): +43.0% year-over-year, with recent quarterly sales up 67.6%.
• Revenue Estimate Beats: The company has surpassed revenue estimates in all of the last four quarters, averaging an 87.9% beat.
• Profit Margins: While fluctuating, the latest quarter showed a 12.2% profit margin, indicating improved efficiency.

These metrics suggest ENB is in a phase of accelerating business performance, a key factor for momentum investors.

Technical Strength & Setup Quality

ENB’s technical profile is equally compelling, with a Technical Rating of 9 and a Setup Rating of 8. Key observations from the technical report include:

• Strong Relative Strength: ENB has outperformed 86% of stocks over the past year.
• Consolidation Pattern: The stock is in a pullback within a broader uptrend, presenting a potential entry point.
• Support Zones: Multiple support levels exist between $44.21 and $40.24, offering clear stop-loss areas.
• Recent Volume Activity: Increased trading volume suggests institutional interest, reinforcing the setup’s validity.

The combination of high growth momentum and a well-defined technical pattern makes ENB a noteworthy candidate for investors seeking stocks with both fundamental and technical strength.

For more high-growth momentum stocks with strong technical setups, check our High Growth Momentum Breakout Setups Screen.

Disclaimer

This is not investment advice. The observations here are based on current data, but market conditions can change. Always conduct your own research before making investment decisions.