2waytrading
Long

Channel Down Bullish Breakout

NYSE:ENB   ENBRIDGE INC
65 0 0
This long and sustained descending channel has attracted us and it looks breakout is in a clear play here. It depends on how you measure the descending channel in order to measure the expected price move above the primary descending trend line by using the duration of the channel, and the width of the channel. Here we have a measured move of 34% from yesterday's close price that means price can easily hit $51 area next few months if not weeks with stop loss at today's low. Expect a minor pullback which may trap many sellers to believe that price will penetrate or trade back to the descending channel .

Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out