ENB - Move DownAn idea showing a breakdown from a temporary channel to a lower trend line
This is an update to my previous analyses to ENB which also suggests a move downward to like $9 - 10.
ENB
ENB Stock - Long investmentENB is creating a bullish symmetrical triangle.
Breaking the upper trend and the Fibbo 0.618 @ 55 dollars (called Buying zone 1 in chart). ENB will make a 10 percent upwards bullish run ( to TP1).
There will be a small correction between TP1 and Fibbo 0.785 @ 56.89 dollars.
Then will potentially hit the 65+ zone (to TP2)
ENB - Double TopENB has rised dramatically on this non-log chart
I have drawn a strong trend line in green that I expect price to fall to
This is the result of a double top
Double tops are a bearish pattern and is shown with the bearish bars pattern tool.
Long ENB using a two frames chart to identify long-term uptrendWHY I TOOK THE TRADE
- Long term chart in uptrend & price is testing into a new DZ
- The DZ(demand zone) on the (D) chart is the last Higher Low of the (W) uptrend
- technically: the (W) chart & (M) were in uptrend
- Price failed to CLS below the DZ, I enter LNG on the retest
CONFIRMATION
- Double bottom confirmed after price broke out & rallied
WHY I CLOSE THE TRADE
- Profit target 1 was hit @53.70 & profit target 2 hit few days after. as the price comes into a Strong
untested Resistance (supply zone)
- unbalanced buying into strong DZ
A decent buy and hold level for ENB - Deep valueI do own ENB, and I continue to add, but I wish I had been more patient in the last few months, but a dividend btw 7.5-9% is attractive for something that I will try to hold for 5-10 years if ENB continues to look strong financially. I Will purchase more near 34.50-ish region if we see those prices, call it a "fantasy order". Transferring cash and placing order today, will add more cash and increase order size as capital increases over the next few weeks. stockchase.com > 60% payout ratio is of course not ideal, but in this sector, it's not half bad. Will increase position size by 20% at 34.55 if that price becomes available, which will take into account an attempt to violate the market structure based on the weekly trend line support.
$ENB on the path to 50$$ENB has been a good recovery play. Slow and steady & great dividends.
If you didn't catch the low entries, expect retest of 41$ before hitting 46$. IF clean break, on to 50$.
Unlikely we fall below this zone.
LONG ENBExpecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
ENB upward movement is coming OBV on bottom shows strong uptrend vs ongoing flat price. I’m in at 29.16 US for at least short to med hold. MACD is heading the the right direction past 0 and upcoming up cross of 200 EMA.
ENB.PR.J Long Position: weekly candlestick pattern (01.05.2019)Stock: ENBPRJ
Quantity: 30
Position: Long
Open: 17.50$
Trade Idea - ENBUpdating my short-term assessment on ENB of last week. I'm targeting ENB to hit the area between the level 1 of the fib extension from the last rally and the 0.618 fib retracement level from this year's highs, after the last retracement rally already gone through the 0.382 level, I think it's time to go for the 0.618. There should be some resistance around 43$CAD though.
Target 45-46$CAD / Stop Loss 39.50$CAD. 4/1 reward-risk ratio. Upside 12%+
Enbridge_(TSX: ENB)_May_10_2018Enbridge is one of the largest energy infrastructure companies in North America. It operates in five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. It's primary area of operations include Canada and the United States.
The stock has treaded downwards since it announced the acquisition of Spectra Energy in 2016 resulting in a debt of close to $60 billion dollars. However, the company has started to sell several non-core assets for which the has received considerable interest from potential buyers. In the long run as oil and gas prices increase, Enbridge is surely going to benefit from the increase in prices.
In the short to medium term, the price has cross the upper bound of the channel. Buyers interested in buying should wait till the stock pull back to the upper support of the channel and confirm that the support holds. However, I strongly believe that at these prices the stock is a steal compared to the assets and potential income from those assets.
