ENBRIDGE INC (NYSE:ENB) – A Strong Technical Setup for Breakout Traders
By Mill Chart
Last update: May 23, 2025
ENBRIDGE INC (NYSE:ENB) has been identified as a potential breakout candidate by our technical screening process. The stock shows a combination of strong technical health and a well-defined consolidation pattern, making it worth a closer look for traders focused on momentum and breakout strategies.
Technical Strength
ENB currently holds a Technical Rating of 8 out of 10, indicating a favorable trend structure. Key factors supporting this rating include:
- Long-term uptrend: The stock remains in a positive long-term trend, with price trading above key moving averages (50-day, 100-day, and 200-day SMAs).
- Relative strength: ENB has outperformed 87% of all stocks over the past year and ranks in the top 12% of its industry (Oil, Gas & Consumable Fuels).
- Support levels: Multiple support zones exist between $40.24 and $45.12, providing a cushion against downside moves.
While the short-term trend is neutral, the broader uptrend remains intact, suggesting that any pullback could present a buying opportunity.
Setup Quality
ENB also scores an 8 out of 10 on the Setup Rating, signaling a well-defined consolidation phase. Key observations include:
- Tight trading range: Over the past month, the stock has fluctuated between $43.87 and $47.08, forming a clear base.
- Resistance breakout potential: A key resistance level sits at $46.87. A move above this level could trigger a breakout.
- Risk management: A stop-loss below $44.40 (just under the nearest support) limits downside exposure to about 5.3%.
For traders, the suggested entry point is $46.88, with an exit at $44.40 if the breakout fails.
For more details, see the full technical report for ENB.
Our Technical Breakout Setups screener lists more potential breakout candidates and is updated daily.
Disclaimer
This is not investment advice. The observations here are based on technical analysis at the time of writing, and market conditions can change. Always conduct your own research before making trading decisions.
