ENB Stock - Long investment Long

ENBRIDGE INCTSX

Description

⋅ Apr 15, 2023 11:29 AM

ENB 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)

Comments

kinong05

⋅ Sep 25, 2023 9:18 PM

any updates on this? in looking at my oscillators and it's way oversold on 1w timeframe. it could go down a bit more but im probably just gonna DCA into this.

Mr_Anderson_007

⋅ May 29, 2023 4:35 PM

Hi Houmani, have you revisited this thesis here? Price is below the triangle at this point. While it is below, not really seeing the high volumes that might be expected if this is in fact going to continue going lower. Interesting in here. From a fundamental perspective, dividend yield is now above 7% due to the drop.

Houmani

⋅ Jun 2, 2023 4:12 PM

@Mr_Anderson_007 looking an the RSI the stock has been over sold and this is actually a good sign for long term holders. you got it ! in terms of dividend yield, price level I would say this stock is a golden one to invest in. it dropped all the way to the stoploss zone but didn't hit the bottom of it. hope you invested :).