ENBRIDGE INC (ENB) Stock Technical Analysis
USA - NYSE:ENB - CA29250N1050 - Common Stock
We assign a technical rating of 5 out of 10 to ENB. In the last year, ENB was a medium performer in the overall market. The medium term is still looking fine, but we see some doubts in the very recent evolution.
Although the technical rating is only medium, ENB does present a nice setup opportunity. Prices have been consolidating lately. There is a support zone below the current price at 47.62, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
44.10
We found 3 important support areas.
- A support zone ranging from 46.61 to 47.62. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @45.45 from a horizontal line in the daily time frame.
- Support @44.55 from a horizontal line in the daily time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 50.08 to 50.47. 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 | 67.5 | 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) | DOWN | NEGATIVE | The current price of ENB is below a declining 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) | 52.2 | NEUTRAL | The RSI value for ENB is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.21 | POSITIVE | The MACD value suggests ENB has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 82.59 | OVERBOUGHT | The high Stochastics value suggests ENB may be overbought. |
| Average True Range in percent/ATR (20) | 1.55 | LOW VOLATILITY | The low ATR as a percentage value for ENB suggests low volalility. |
| Average Directional Index/ADX (14) | 23.26 | NEUTRAL | The ADX value for ENB suggests a possible start of a new trend. |
47.88
-0.38 (-0.79%)
ENBRIDGE INC / ENB FAQ
What is the technical rating for ENB stock?
ChartMill assigns a technical rating of 5 / 10 to ENB.
Can you provide the trend direction for ENBRIDGE INC?
The current trend direction for ENBRIDGE INC (ENB) is Bullish.
What is the RSI signal for ENB stock?
ENBRIDGE INC (ENB) has an RSI value of 52.2037. This indicates that the stock is currently neutral.
What is the MACD signal for ENB stock?
The MACD indicator for ENBRIDGE INC (ENB) has a value of 0.213973, indicating a bearish trend.
Can you provide the support and resistance levels for ENBRIDGE INC?
ENBRIDGE INC (ENB) has a support level at 47.62 and a resistance level at 50.08. Check the full technical report for our detailed analysis of ENB support and resistance levels.