Neutral short term - Potential buying opportunity for long termENB 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.
Market insights
ENB.PR.J Long Position: weekly candlestick pattern (01.05.2019)Stock: ENBPRJ
Quantity: 30
Position: Long
Open: 17.50$
ENB - Inverse Head and Shoulders $47 targetFurther 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.
Possible trend reversalRSI 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.
ENB Enbridge breaks daily uptrend - Short if pattern holdsRed 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
Interesting level for Enbridge at $45Currently looking at a long term (weekly) downtrend vs a shorter term uptrend (daily)
- Hitting daily support at $45
- Hitting lower daily bollinger band
- Somewhat negative signal on RSI, but nothing confirmative
- No earnings or dividends for 2 months - price will be more affected by technicals during this timeframe
2 trade possibilities
1. if long term downtrend holds (price moves down), and short term uptrend breaks, could be a good short play
2. if long term downtrend breaks (price moves up), and a bounce off current support, it will be a strong buy, as breaking a longer trend is a stronger indicator than breaking a shorter trend
Watching today until Friday to see if current level of support holds - if it doesn't move down sharply or break support and daily up trend, I'll probably buy between 45-46 with a 2.5/1 RR.
Good luck!
ENB Looking for excuse to breakout.ENB.TO Has a really obvious breakout pattern so many people will be watching it. Picture perfect base, 50/200 cross into consolidation waiting for an excuse to go high. On Watch.
Enbridge Breaks 2018 Daily DowntrendChart has notes, trend lines, and trading hypothesis. Note that my trend lines don't use strict candlestick high/low marks - they use high/low CLOSE values, and I try and have them cross through as many high/low close values as possible to confirm trends.
Trade Idea - ENBUpdating my short-term assessment on ENB of last week. I'm targeting ENB to hit the area between the level 1 of the fib extension from the last rally and the 0.618 fib retracement level from this year's highs, after the last retracement rally already gone through the 0.382 level, I think it's time to go for the 0.618. There should be some resistance around 43$CAD though.
Target 45-46$CAD / Stop Loss 39.50$CAD. 4/1 reward-risk ratio. Upside 12%+
Enbridge Possible Supercycle Elliott Wave AnalysisIs Enbridge about to begin the new bull supercycle?
Enbridge in a heavy support/resistance zone. Looking for <38.85Looking for short confirmed breakdown below 38.85. Below that there is no support until around 38.22.
Indicators:
1. Double bounce off upper down trend
2. Didn't sustain rally after earnings
3. Broke bullish 4H MA down
4. Currently in a 4H downtrend and creeping on the convection point
No RSI confirmation either way, indicator is neutral.
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.
The great analysts recommend buy this piece of ? In several well-known websites some analysts called the stock of this company a "Top 10 dividend paying energy stock". This people use sentences like ENB shares displayed both attractive valuation metrics and strong profitability metrics. But I look the chart, and I think which person recommends buy this company stock and I wonder will they already bought some with his own money.
By the way in my past ideas published I shared some bullish stocks with the argument of strong Crude Oil futures and the opportunity to Buy Energy Companies but I made the comment that no all energy stocks are having a good moment. And I like to find this Stock for share because in the investing world there a savvy advice that say something like identify the strong sector and buy stocks of this companies but this do not mean you can buy whatever name without make the homework or buy something you heard out there where the hairdresser
I want to take this heated moment to introduce my first short idea. Strictly from a technical point of view and with speculative intentions only with a short term holding period and with a specific price target. The price target is 30.00 based in the past support. The trade holding period can go to one or two months, it depends in how many time takes the price to reach the target.
Now I go the technical aspect of the situation and is very simple without the use of indicators and other fancy stuff. Only support and resistance.
Weeks ago the price drops and breakout a support level in the area of 36.60 approximately. And then the past week the price make a pullback and test the past support that now became resistance.
I do not use indicators but I use the moving averages like a point of reference and in my opinion the price need more time for consolidate. Other important thing for considerate here is the pullback to 37.60 area and the immediate rejection
I do not use short interest here because for selecting trades because this is pure price action for opportunistic speculators with short term holding period.
That's all :(
