Hey guys, ENBRIDGE is in a bullish momentum with a return of buying volume and a shadow from sellers. On the TIMEFRAME M1 we see a tombstone with a large sales volume it is very plausible to breakout the price to breakout the range. And join the first top on TIMEFRAME H1 then test the next one in D1 and H4 with a target on the top. This follows on the same unit...
$ENB posted earnings with a neutral outlook projected after a positive under reaction following its earnings with the PEAD placing the stock in Drift A. currently price is trading on the lower boundary of the projected PEAD cone.
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Expecting 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.
Chart speaks for itself.
Note the amount of times the price has tested the moving averages.
Me personally i don't like trading these middle zones and will wait for further confirmation of better low-risk high reward plays.
Things to note:
Still trading underneath a death cross.
We've been on a bullish rally for over 2 months now hence why I am not in a rush to...
I. Analysis
1. Stock has been making a series of HL, and leaning against the drawn resistance level
2. Price should have bounced back steeper after consecutive tests of the resistance area, but instead, buying pressure is stepping in at consistently higher levels.
The above signals that a probable strong breakout is approaching.
Just a as sidenote, this has set...
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.
You think levels are really a think? Yes they are.
I marked these lines last week, see twitter if you dont believe me.
Point is, they work. I dont care why they work. I care to find them and use them like a rented mule.
Canadian-based Enbridge (NYSE:ENB) offers investors a 6% yield, while Plains All American Pipeline (NYSE:PAA) has a 7.5% yield. Enbridge,has a large and much more diversified business, which should be a major plus for conservative types. (Obviously, however, if you want a pure-play midstream company Enbridge won't be a good fit.) Add in a more consistent dividend...
