ENBRIDGE INC (ENB) Stock Technical Analysis
NYSE:ENB - CA29250N1050 - Common Stock
48.26 USD
+0.1 (+0.21%)
48.24 USD
-0.02 (-0.04%)
Overall ENB gets a technical rating of 8 out of 10. Although ENB is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
Both the short term and long term trends are positive. This is a very positive sign.
ENB is part of the Oil, Gas & Consumable Fuels industry. There are 209 other stocks in this industry. ENB outperforms 73% of them.
ENB is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
ENB has an average volume of 3819130 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When comparing the performance of all stocks over the past year, ENB turns out to be only a medium performer in the overall market: it outperformed 65% of all stocks.
In the last month ENB has a been trading in a tight range between 46.50 and 48.59.
Besides having an excellent technical rating, ENB also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 48.35. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 48.18, a Stop Loss order could be placed below this zone.
More info and screens
40.10
48.83
4 important support areas can be observed.
- A support zone ranging from 47.72 to 48.18. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 45.45 to 46.64. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 44.16 to 44.55. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 40.50 to 41.08. This zone is formed by a combination of multiple trend lines in the daily time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 48.35 to 48.35. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for ENB is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for ENB is up. |
| ChartMill Relative Strength | 65.06 | NEUTRAL | ENB is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of ENB is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of ENB is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of ENB is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 62.48 | NEUTRAL | The RSI value for ENB is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests ENB has a negative trend. |
| Stochastics (14,3) | 83.57 | OVERBOUGHT | The high Stochastics value suggests ENB may be overbought. |
| Average True Range in percent/ATR (20) | 1.25 | LOW VOLATILITY | The low ATR as a percentage value for ENB suggests low volalility. |
| Average Directional Index/ADX (14) | 28.2 | POSITIVE | The high ADX value value for ENB suggests a strong trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 48.36 | 47.71 | 0.65 (1.34%) | 25.00% |
| An entry @48.36. This is a Buy Stop order right above the resistance zone. | An exit @47.71. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.65 points, which is 1.34%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.34%. |
- The distance between exit and entry is rather small compared to the average daily movement of ENB. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
48.26
+0.1 (+0.21%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorEnergy
GICS IndustryOil, Gas & Consumable Fuels
Performance
% Chg0.21%
1 Week0.94%
2 Weeks0.67%
1 Month2.51%
3 Month3.74%
6 Month14.9%
12 Month19.49%
2 Year45.41%
3 Year30.08%
5 Year65.27%
10 Year29.98%
15 Year-7.72%
Volatility
ATR(14)0.57
ATR(20)%1.25%
ATR Inc-26.12%
Range Today0.47
ADR(20)0.57
ADR(20)%1.18%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS65.06
Mansfield0.02
10 Day High48.59
10 Day Low47.09
20 Day High48.59
20 Day Low46.5
52 Week High48.59
52 Week Low39.73
CS1 End48.18
CR1 Start48.35
Volume & EV
DER(3)-1.59%
DER(5)-0.38%
Volume2.67M
Volume Incr-22.5%
Vol(5)3.09M
Vol(50)3.82M