ENB has been forming a year long Ascending Triangle, I like how ENB has also broken the long term downtrend line here.
3% Horizontal Pattern boundary entry - $52.75
Measured Pattern price target - $65.08
A lot of people are owners (via stocks, etfs or mutual funds) of Enbridge in someway because of the companies strong consistency in increasing their dividends overtime and the companies ability to retain a decent balance sheet even in market corrections and recessions, however, what do charts show?
For retirees, its hard to discount Enbridge, as their yields have...
ENB: Enbridge Inc.
2019-12-10 07:00:00
Enbridge Increases Dividend by 9.8%, Announces 2020 Financial Guidance and Provides Update on Strategic Priorities
There are certain levels at which unfilled orders are still waiting. I can't see them, but when price moves away from certain levels fast, that means something.
Work in Progress ENB Long - WIP , setting this up to remind me to keep tracking price. Not setting up any orders at the moment. Will revisit. Long term buy and hold strategy. Possible Descending Triangle in play. Good buying opportunity in low to mid 30s. 4hr chart has an MA death cross in the works which could help move price closer to target.
ENB Long - WIP, setting this up to remind me to keep tracking price. Not setting up any orders at the moment. Will revisit. Long term buy and hold strategy.
Further to this pattern, the weekly charts printed a bullish morning star reversal pattern (with a beautiful dragonfly doji). We should be heading up from here, barring any major news that would disrupt this pattern.
RSI has been tested couple times at 37. If it kicks back for the third time, there is high chance that we see bullish trend. The target price can be as high as 39.58.
Red arrows show where up-trend was broken
Green arrows show where price bounced down from previous up-trend (reversal indication)
If breaks below 44.15, downtrend should be confirmed
