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 9 out of 10. Both in the recent history as in the last year, ENB has proven to be a steady performer, scoring decent points in every aspect analyzed.
The short term is neutral, but the long term trend is still positive. Not much to worry about for now.
Looking at the yearly performance, ENB did better than 84% of all other 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 82% of 213 stocks in the same industry.
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.
In the last month ENB has a been trading in the 44.56 - 47.44 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
ENB has an average volume of 4177890 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Besides having an excellent technical rating, ENB also presents a decent setup pattern. Prices have been consolidating lately. There is a support zone below the current price at 45.53, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for ENB in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
More info and screens
39.84
47.64
We found 4 important support areas.
- A support zone ranging from 45.22 to 45.53. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @43.23 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 46.13 to 47.17. This zone is formed by a combination of multiple trend lines and important moving averages 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 | 84.4 | POSITIVE | ENB has a high relative strength, it outperformed 84.4% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of ENB is below 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) | 49.62 | NEUTRAL | The RSI value for ENB is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.05 | NEGATIVE | The MACD value suggests ENB has a negative trend. |
| Stochastics (14,3) | 52.76 | NEUTRAL | The Stochastics value for ENB is a neutral value. |
| Average True Range in percent/ATR (20) | 1.47 | LOW VOLATILITY | The low ATR as a percentage value for ENB suggests low volalility. |
| Average Directional Index/ADX (14) | 12.28 | 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 |
|---|---|---|---|
| 46.42 | 45.56 | 0.86 (1.86%) | 25.00% |
| An entry @46.42. This is a Buy Stop order right above the 10 day moving average. | An exit @45.56. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 0.86 points, which is 1.86%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.47%. |
- 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.
45.96
-0.71 (-1.52%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorEnergy
GICS IndustryOil, Gas & Consumable Fuels
Performance
% Chg-1.52%
1 Week0.31%
2 Weeks-2.54%
1 Month2.47%
3 Month4.76%
6 Month11.1%
12 Month32.45%
2 Year23.71%
3 Year8.76%
5 Year51.08%
10 Year-1.77%
15 Year-1.37%
Volatility
ATR(14)0.65
ATR(20)%1.47%
ATR Inc37.29%
Range Today1.2
ADR(20)0.66
ADR(20)%1.45%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS84.4
Mansfield0.37
10 Day High47.44
10 Day Low45.57
20 Day High47.44
20 Day Low44.56
52 Week High47.44
52 Week Low34.68
CS1 End45.53
CR1 Start46.13
Volume & EV
DER(3)3.05%
DER(5)5.08%
Volume3.34M
Volume Incr-26.95%
Vol(5)3.24M
Vol(50)4.18M