ENBRIDGE INC (ENB) Stock Technical Analysis
NYSE:ENB - New York Stock Exchange, Inc. - CA29250N1050 - Common Stock - Currency: USD
Taking everything into account, ENB scores 6 out of 10 in our technical rating. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, ENB is only an average performer.
Although the technical rating is only medium, ENB does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 45.32. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 45.12, a Stop Loss order could be placed below this zone.
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40.00
We found 3 important support areas.
- A support zone ranging from 44.49 to 45.12. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @43.73 from a trend line in the weekly time frame.
- Support @40.40 from a horizontal line in the daily time frame.
2 important resistance areas can be observed.
- A resistance zone ranging from 45.32 to 45.45. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A resistance zone ranging from 46.86 to 47.17. 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 | 60.24 | 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 | MIXED | The current price of ENB is below 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) | 52.55 | NEUTRAL | The RSI value for ENB is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.05 | POSITIVE | The MACD value suggests ENB has a positive trend. |
| Stochastics (14,3) | 60.76 | NEUTRAL | The Stochastics value for ENB is a neutral value. |
| Average True Range in percent/ATR (20) | 1.34 | LOW VOLATILITY | The low ATR as a percentage value for ENB suggests low volalility. |
| Average Directional Index/ADX (14) | 15.31 | NEGATIVE | The low ADX value for ENB suggests a weak or negative trend. |
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 |
|---|---|---|---|
| 45.46 | 44.53 | 0.94 (2.06%) | 25.00% |
| An entry @45.46. This is a Buy Stop order right above the resistance zone. | An exit @44.52. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 0.94 points, which is 2.06%. | For a 0.51% total portfolio risk, you can invest 25.00% 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.
45.29
+0.31 (+0.69%)