ENBRIDGE INC (ENB) Stock Technical Analysis
NYSE:ENB - New York Stock Exchange, Inc. - CA29250N1050 - Common Stock - Currency: USD
Overall ENB gets a technical rating of 8 out of 10. In the last year, ENB was one of the better performers, but we do observe some doubts in the very recent evolution.
The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
When comparing the yearly performance of all stocks, we notice that ENB is one of the better performing stocks in the market, outperforming 88% of all stocks. On top of that, ENB also shows a nice and consistent pattern of rising prices.
ENB is one of the better performing stocks in the Oil, Gas & Consumable Fuels industry, it outperforms 88% of 213 stocks in the same industry.
ENB is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so ENB is performing more or less in line with the market.
ENB has an average volume of 3969370 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
In the last month ENB has a been trading in the 43.87 - 47.08 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Besides having an excellent technical rating, ENB also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 46.87. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 45.79, a Stop Loss order could be placed below this zone.
More info and screens
39.84
47.34
We found 4 important support areas.
- A support zone ranging from 44.41 to 45.79. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @42.88 from a trend line in the weekly time frame.
- A support zone ranging from 41.08 to 41.77. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Strong support @40.24 from a horizontal line in the daily time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 46.87 to 46.87. 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 | NEUTRAL | NEUTRAL | The short term trend for ENB is neutral. |
| ChartMill Relative Strength | 88.65 | POSITIVE | ENB has a high relative strength, it outperformed 88.65% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of ENB is above a declining 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) | 56.95 | NEUTRAL | The RSI value for ENB is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.07 | NEGATIVE | The MACD value suggests ENB has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 54.41 | NEUTRAL | The Stochastics value for ENB is a neutral value. |
| Average True Range in percent/ATR (20) | 1.76 | LOW VOLATILITY | The low ATR as a percentage value for ENB suggests low volalility. |
| Average Directional Index/ADX (14) | 17.32 | NEGATIVE | The low ADX value for ENB suggests a weak or negative 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 |
|---|---|---|---|
| 46.88 | 44.40 | 2.48 (5.29%) | 18.90% |
| An entry @46.88. This is a Buy Stop order right above the resistance zone. | An exit @44.40. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 2.48 points, which is 5.29%. | For a 1.00% total portfolio risk, you can invest 18.90% of your capital in this trade. |
- 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.
46.06
+0.89 (+1.97%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorEnergy
GICS IndustryOil, Gas & Consumable Fuels
Performance
% Chg1.97%
1 Week2.7%
2 Weeks-0.09%
1 Month-0.28%
3 Month10.24%
6 Month6.47%
12 Month27.1%
2 Year30.85%
3 Year-0.2%
5 Year41.94%
10 Year-3.88%
15 Year2.72%
Volatility
ATR(14)0.9
ATR(20)%1.76%
ATR Inc-2.38%
Range Today0.91
ADR(20)0.81
ADR(20)%1.76%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS88.65
Mansfield0.94
10 Day High46.24
10 Day Low43.87
20 Day High47.08
20 Day Low43.87
52 Week High47.08
52 Week Low34.6
CS1 End45.79
CR1 Start46.87
Volume & EV
DER(3)1.82%
DER(5)2.12%
Volume5.09M
Volume Incr6.3%
Vol(5)4.39M
Vol(50)3.97M